Re: Mortgage Question - Negotiation possible?
Glad I could help. The worst thing you can do is miss a mortgage payment. One day after 15th and it's on your credit report. Lenders weigh this factor heavily. You may not beat 7.5% right now, but ask around. First Option was a flexible subprime lender last I checked, and GB Home Equity specializes in 2nd mortgages, if you ever decide to go that route.
You and I are actually in very similar situations. I have a house I'm leasing with an option to buy, and there's a PPP as well. Right now it's negative monthly cash flow - what the hell was I thinking??? I'm still looking for more investment properties, via more 'creative' methods like subject-to and sandwich lease options.
Best of luck to you...
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