Quote Originally Posted by Bham1982 View Post
I don't know if this is true, but if it is, it would still make sense for the bank. They don't want borrowers to walk away from their obligations.
Actually, they don't care about the borrowers walking away. They make money off the sale then write the loss off and get a tax break in the process. An acquaintance I know who works for a large bank told me they usually make more off a foreclosure than a normal sale.