Negotiation vs a foreclosure proceeding

Memorialization continues;  death and taxes are sure things thing life.

One of the memorial parks brought to us for rescue has huge debt to a cooperative bank.  In the last 7 years, the original principal of 7 numbers has ballooned to 8 numbers.  We went to the lender 3 years ago requesting for some relief. However, the owner for one reason or another did not follow up nor did any action to avert the foreclosure.

So we tried to look for remedies:

1. To help reduce the amount from 8 numbers fo only 7 numbers.  However the new officer, wanting to look good to the boss, can only reduce the penalties by P2 million.  This was generous, however, considering the lackluster performance of the park, the huge amount looks formidable still.

2.  To let the foreclosure continue but challenge the bank's lack of authority over the franchise, or that the bank will have to put a memorial park company to manage the park.  Or use the legalese that the rights of memorial park owners is superior to the foreclosure.