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[Clansgian AT wmconnect.com]

Well, no. The holders of any notes against the property need only bid the 
aggregate amount of all notes plus expenses. The lender has no motivation 
to bid higher than necessary

Of course, not highter than necessary, but what's necessary?  Most lenders 
just want their money back so the usual thing is to bid their equity in the 
property plus their expenses.  If someone outbids them, then, great!  They 
get 
their money back.

But what has begun to happen is that land and real estate prices are leveling 
off.  True, faster some places than others.  With bids probable to be lower 
than what a lender has in the property, it is plenty motivation to bid high 
rather than take an immediate loss.  The number of foreclosures is mounting, 
prices are leveling off and dropping ... which leads us to:

> 
>  


The denial of the bubble has become boring.  It's beginning to sound like 
"The South's Gonna Rise Again"