[fatlazyless]

Is it accurate for me to say that the bank will set a minimum reserve amount that totally covers their unpaid mortgage loan outstanding plus the auctioneer's commission and whatever else they may want to add to the minimum amount of money before they will allow it to be sold?

What usually has been happening at waterfront foreclosure auctions in the area lately? I have absolutely no clue, but my best guess is that NOTHING has been happening because the minimum reserve amount almost always does not get bid, so there is no sale, and the bank continues to own the property. Just like there's 'for sale' signs on waterfront property that have been posted out by the street for one-two-three years time with sellers refusing to lower their asking price, and buyers refusing to raise their offer price. Waterfront property prices went up fast-fast-fast, but can take a long-long-long time to go down-down-down.