I own an investment property that is underwater and has negative cash flow. Is there any thing I can do?

Posted on Sep 25, 2012 in HARP Refinance

Question by : I own an investment property that is underwater and has negative cash flow. Is there any thing I can do?
It is non-owner occupied and not FHA backed so I do not qualify for HARP, seek ampoule HOPE or any other government program. I had to lower the rents because of all of the vacancies in the area and now the cost of maintenance is becoming an issue. The loan is with Bank of America and they told me the only thing I could do is a short sell. Is there any thing I can do to get my monthly payment reduced?

Best answer:

Answer by Stephen G
Section 8 rental. Call the appropiate agency

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One Comment

  1. If the bank won’t modify your loan, your best course of action is a short sale.