Another alternative is to buy the property sub-2 or in some other fashion.

If you assume 100% financing for evaluating the deal, then you're paying yourself the same return on the cash as you're paying for the loan.An alternative is to consider the cash on cash return.

Real estate is one alternative.

Assuming that someone has alternative motives, or raising issues with postings that might simply have been an honest oversight, are not worth defending or bickering about (leave that to the grade 5 kids.

The alternative will be more expensive.

If not, you will be in a forced position to sell which equals loss.I would suggest some alternatives to finance this or at least some back-ups such as private money.

So, have your attorney strike an alternative like a modest EMD upon lender acceptance as David suggested.

The alternative was to hold and then refinance in five or so years when the market turns so that I can pull my equity out.

Suggesting the roommate is one alternative, but this banks on the assumption that she'll try and accomplish the locating of a roomate- in the meantime your expenses continue to climb-so then you're out another month's rent + eviction costs+ cost of time lost finding a new tenant AFTER you've given her a "chance".

A L/O is a much better Alternative than a Reverse Mortgage.