Ask HN: I need to make extra $20k for a mortgage balloon payment. Any advice?

3 points by selamin 7y ago ↗ HN

I'm in a tight spot and need to figure out how I can make an extra $20,000 dollars for a balloon payment on my mortgage. It's been a rough year personally and this somehow slipped off my radar and it's become an urgent issue.

I'm very experienced web developer and I do mostly contract work and sell a few products. I have easily made $20k in a month several times before, but those months are unplanned, and I just happened to book a lot of work.

Does anyone have any advice about how I can book $20k in work this month? Or sell one of my existing products?

Some of my work:

https://duetapp.com

https://theanchorapp.com

http://getsoloapp.com

http://boulevardjs.com/examples

I also have lot's of client work, mostly startups and some enterprise customers, which I'm happy to share privately.

6 comments

[ 3.2 ms ] story [ 22.6 ms ] thread

charlesdm 7y ago ↗

The quickest way would likely be to borrow it from somewhere else. Do you have any shares in an investment portfolio by any chance?

If you transfer those to Interactive Brokers, it's quite easy (and relatively cheap -- 3.7% a year) to borrow money against them (margin debt). Unless markets crash tomorrow that should allow you to bridge things.

ytNumbers 7y ago ↗

The stock market has been falling hard lately. If ever there was a time NOT to take such a risk, now is probably it.

charlesdm 7y ago ↗

Depends on how much you borrow, and how large your portfolio is.

selamin 7y ago ↗

Unfortunately that isn't an option for me either

InfamousRece 7y ago ↗

You can use Plastiq (https://www.plastiq.com) to put it on a credit card, but this comes with a 2.5% fee (which will be $500 in your case, so quite steep).

zapperdapper 7y ago ↗

With your income a personal loan, say over five years, should be doable.