Working through the math... if they sell at half the debt approx. 150K.. Bank buys it only gets on third of that back. So now they spent another 100K on a property that already owed them 100K. Down 200 and can only hope to get 90 back? Seams they would be further ahead to walk away...
Yeah, honestly, i can see the banks not buying it now that i think about it, letting the county seize it under unpaid taxes and then swoop in and get it