My understanding (I'm far from an expert on this) is that re-negotiating your mortgage calls the "assets" the bank can claim into question, at least if they do this on a large scale.
If they auction it off (including for a lesser price) this may not trigger a re-evaluation of the "value" of the property.
I'm not really sure though; this is just my suspicion.
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Re: What I don't understand is the following...
Date: 2009-10-29 09:57 pm (UTC)If they auction it off (including for a lesser price) this may not trigger a re-evaluation of the "value" of the property.
I'm not really sure though; this is just my suspicion.