I think they are trying to genreate offers. Even if they get an offer at that price the lender may turn down the short sale unless its actually been foreclosed on already. Its been under a NOD for some time already.
I just re-checked and the LTv isnt as bad as I thought. They put 10% down on it new ($2.275M). Loan is ONLY about $2.05M;) But there is probably at least another 50K in arrears. If they get $1.9M the 1st gets paid off and the 2nd gets wiped out. Countrywide made both loans.
Imagine how the 2 neighbors feel with their homes on the market for $400K more but 600 and 1200 sq ft less.
