I don't know the numbers on your property, so I'll create a hypothetical:Assume your principal and interest on a $300k loan is $1,263.You're sitting on the potential to get $155k (tax free, btw), but the rate will be 7.5%, taking you're principal and interest to $2,100.Yes, it's $900/month more, but you have $155k of tax free money in the bank.

@Dominic RichardsonPrivate money lenders typically want a property with great potential and an LTV that secures their principal.

These payments typically include both principal and interest.7.

Our house is assessed at 415000 and the mortgage is 269000 and not declining because everything goes to interest, taxes, and insurance, nothing to principal.

Also, keep in mind that you should have enough profit (NOI minus principal and interest) to be able to realize a reasonable rate of return and still be able to set aside some money for capital expenditures - for example, money for new roofing, paving repairs for drives and parking areas, etc.In the end, you have to get to the other side of analysis though.

It's the same principal.

I pay a small extra amount towards the principal of the mortgages from the cash flow each month to help speed the process along.

You would need to pay back the lienholder the outstanding principal balance of your loan plus any associated fees (Prepayment, discharge, etc.)

If they are stuck on a rate push the amortization out and do a balloon, otherwise I would work on getting the rate lower and the price they want as you will get mor principal paydown vs less with a longer amortization.

Explain your situation to your creditors , ask for a 90 day moratorium on payments with the principal added to the loan balance and term extended 3 months.