While I've been out of the business for a number of years now, like the others here, I don't know of any reason a Bank would bid substantially over the amount owed on their mortgage + fees etc. Since it doesn't seem to make sense, you have to try to figure out under what circumstances it WOULD make sense... Off the top of my head, the only thing that comes up is if these mtgs are enmeshed in the securitization mess, where the foreclosure title is in question---if so, the Bank may not want to risk not being able to get title ins. on a bank sale, or have to hold harmless the title co. But, even so, it would seem the Bank woild only have to outbid by the legally acceptable raise in bid, not a "substantial" overbid...Curious...
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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