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How to refinance investment property loan w/ partners and turn into owner-occupied investment?

Profile picture for dragonfly68
We "inherited" a percentage interest in a triplex (and 3 partners; none of whom live on-site), and need to get the original loan with acceleration death clause refinanced and into our name before the bank tries to demand full payment, and we lose our interest entirely. The other partners don't or can't qualify bc the economic downturn. One of the partners may be claiming bankruptcy. The loan has been paid timely, and has strong rent rolls but I don't think we'd qualify unless we move into one of the units. We would qualify if the bank would consider the current rents (over 20months) and our residual payments. Any suggestions to streamline this process? 
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February 11 - US
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Answers (1)

Profile picture for Pat Pribisko
You definitely need to consult an attorneyASAP.  This is not a question for this web site.
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February 11
 

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