If you have equity in your home, then that's not a problem. A private investor would be willing to provide a first mortgage--really, a loan secured by the first--so long as there's sufficient equity. Maybe even a second, so long as there's enough equity.
Example: You own the house free and clear. It's worth $100,000. You need $25,000. Many private lenders would be glad to make that loan. The price of the loan might be in the range of 3-5 points and 12% interest. You pay it back by July 2014 and the debt disappears. You don't pay it back and the private lender forecloses and takes your home.
That would even work if you had a small mortgage on the property--enough equity to cover the first and the private lender's second. You might have a $20,000 first mortgage on the property and still a private lender would be willing to loan you the $25,000. The rate and points would be higher, but it could still work.
[Josh: I'm not sure if that's what Justin and Carlos were proposing, but that's how I'd do it.]
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