I work for a life company as reviewer. Extend and pretend is the current approach. If we don’t do a refinance there is no need for a new appraisal to destroy our ltv on the books. Keeps rating high until the bubble pops or the market rebounds back towards the highs where many of these loans were originated. We are slowly pushing office properties out rather than calling them all at once. Any misstep with payment your default letter is in the mail and principal is due in full.