Negotiating with lender for balance decrease?

[Jacob Kline]

If I have a contract on a property is it possible to go to the lender and negotiate the balance down for a cash payoff?

The note is incurring daily interest, property is in bad shape, and lender would most likely have to evict people currently living there- possible negotiation points?

Anyone have experience doing this?

[Brett Goldsmith]

If the home has equity a short pay is likely not possible. If the house is upside down then it may be possible depending on account and borrower circumstances.