NC Mixed bag portfolio

[Brad Smith]

Hello Private/HML's,

My client has 5 NC props blanketed on a balloon that expires in Dec.  Client bought properties at top of market in 2006 so is underwater, owing 260K on aggregate value of about 225K.

Client is a physician with excellent credit (780) and strong income (350K) and IS willing to pay down existing balance to make LTV work.

Properties are a mixed bag: 3 double-wides, 1 TH Condo and 1 SFD.  Individual values range from 35K to 85K.

Currently he is paying 7.5% I/O and is more rate than fee conscious.

Thanks in advance.