The manager proposed several options to address the property's financial issues, including allowing foreclosure which lacked support. While co-owners supported contributing more cash, they wanted the lowest amount possible and more favorable terms. The manager is requesting the lender modify the loan by extending the term and reducing interest payments for most of the period, with co-owners contributing $90k, and the lender has already declined once.

1. Manager’s Proposal October 26, 2009

5. Lender Has Already Declined Once

6. Lender responds, future consequences arise