A loan modification would be the best way to do it. Check with your lender or servicer on their website about your options. Make sure you do not fall more than two payments behind or they can start foreclosure proceedings.
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.
You really only have two options: 1) request a loan modification, or 2) withhold payment until you are able to pay. Once you become in default, however, the lender may commence foreclosure proceedings. That's something that you need to be aware of.
If you are having problems collecting from your tenants, you need to serve the tenants with a 3-day notice to pay or quit, then commence unlawful detainer (eviction) proceedings, if necessary.
This response is not intended, nor should it be construed as legal advice. Any information provided is for educational purposes only. To schedule an appointment for an attorney-client privileged consultation, contact me at 530-231-4949 or visit our website at www.lowenthallawoffice.com. The exchange of communications through Avvo.com and similar social media does not establish an attorney-client relationship with me or my office. Thank you.