Loan Modification Forum - LoanSafe.org - View Single Post - Loan Modification for multiple rental properties

t2weati · 12-07-2008, 09:20 PM

Hopingtofind, that is also my understanding....that there needs to be a surplus with your CURRENT situation and if there is a deficit, you will be denied a modification. I spoke with another real estate investor who owns several rentals (I can't remember the exact number...between 5-8) and she was successful in getting the interest rates lowered on both the first and the second loans of a few of them. Her advice to me was to try and keep the surplus to $100 to $200 a month. She has been using this as her guideline and it seems to be working well for her.

12-07-2008, 09:20 PM	#14 (permalink)
t2weati Senior Member Join Date: Dec 2008 Location: Northern California Posts: 34 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Loan Modification for multiple rental properties Hopingtofind, that is also my understanding....that there needs to be a surplus with your CURRENT situation and if there is a deficit, you will be denied a modification. I spoke with another real estate investor who owns several rentals (I can't remember the exact number...between 5-8) and she was successful in getting the interest rates lowered on both the first and the second loans of a few of them. Her advice to me was to try and keep the surplus to $100 to $200 a month. She has been using this as her guideline and it seems to be working well for her.