I have a personal situation. I own 3 investment properties in South Carolina and all the loans on them are with WaMu. Recently, I was downsized and had to take a less paying job and on top of that I had to lower the rents on all 3 properties due to slow down and just to keep them occupied. At this rate I am unable to cover the negative cash flow. I have PMI on all three loans. I was wondering if there is a possibility to contact the lender to see if they would a.) lower or drop PMI payment (I am at almost 20% LTV) b.) lower the Interest Rate so I can keep making the payments. I definitely don’t want to just walk away. If anyone had any experience with this please let me know!
Thank you very much.