Is the $9 million you owe now mostly bank debt or private money? 

With repressed rates, an investor may consider any return that outperforms fixed income markets, whether investment-grade corporate debt, or risk free securities.

It depends on the asset type and whether debt or partners will be involved or not. 

It wouldn't be my preferred way, but as long as you can walk the debt or pay it off quickly enough, it'll be OK.

OPPORTUNITIES: all profit plays fall into one or more of (3) categories: Asset, Debt or Equity opportunities.

A creditor or anyone consulting someone in bankruptcy, other than their attorney or with consent, concerning paying any debt or facilitating payment to one creditor over another is nothing you need to get involved with.

You've proactively decided to negotiate with your debtor regarding your owed amounts and have agreed to settle pennies on the dollar to essentially wipe that debt clean.

In researching the property, a judgment was recently entered againt the defendant-debtor in a completely unrelated case (car accident).

For instance, when a person or individual files bankruptcy or where there is a probate proceeding, the statute of limitations for debtors to collect is tolled.Abstracts of Judgment: Private CreditorsTEX.

However if your mortgage is from a different lender, they dont have access to your day to day balances.Its also pretty important not to build up additional debt or debt accounts while in the midst of a refi. the numbers you gave your mortgage specialist off the beginning should remain accurate through to closing.