Considering that house is worth well over $1,000,000 just who is looking for a bailout? I’d be happy to write a check for $900k today to take care of the liens and give the current owners some walking around cash. And speaking of neighbors, there are two on the market right now within a couple hundred feet of them asking between $1.5 and $1.7 million. If you think a NOD on a $700k loan for a property worth at least $1.3 million automatically reduces the value of every property in the ‘hood then you know nothing about real estate.
