Be prepared with both options written up (new lease w/new terms and quote from licensed professional to return unit in original condition) when you meet with them and have them sign it on the spot. 

"Never point a gun unless you are prepared to shoot".Do you want to get rid of this tenant or  do you want to keep them but get them to pay.  

If they are not prepared to sell and move to a rental they should not be taking the risk of refinancing through you.

I am preparing my business by looking at other avenues.8 am not sitting around waiting for it.

If there is one thing I have learned in real estate investing it is that patience and preparation pay.

The first one that has been fixed up sounds great are you prepared to do that 7 more times?

Unfortunately, this type of situation can occur even in the most unexpected circumstances and it is important to be prepared for anything.

I just looked at my Tax preparation form that my CPA provided and PMI was on there.Loan amountLTVMortgage insurance premium in basis pointsDuration of insurance payments$625,500 or less90% or less80 (0.8%)11 years90% to 95%80 (0.8%)Entire loan termMore than 95%85 (0.85%)Entire loan termMore than $625,50090% or less100 (1%)11 years90% to 95%100 (1%)Entire loan termMore than 95%105 (1.05%)Entire loan term

So be prepared to change the listing once it gets resolved or pull it altogether and restart.

We are requesting transparency in context behind these actions but wanted to prepare with a lawyer.