Re: HELP! - Posted by dewCO
Posted by dewCO on November 22, 2000 at 22:22:43:
Tough time to get answers, when most are probably otherwise occupied. Have you checked to see if the lender will “work something out with you” now that your situation has stabilized? Are there assistance programs to keep you out of forclosure, at least on the house you live in.
Ralistically it’s probably too hard to get equity out of #1 (you don’t really have any in #2) now that you have current mortgage lates, unless you find a private party to assist. But, like I said, if you’ve had good on time payments the lender may roll the arrears into the loan, and let you continue on — as long as you don’t have future problems. Got to ask to find out. Need to make a strong case for you. If #2 has negative cash flow, you might consider dumping it, if you’re still shaky at all. Don’t let it drag you down. There are many creative ways to buy with positive cash flow.