Josh,
For the record my friend is one of the most ethical, straight forward and honest people I have ever known. He is in my opinion beyond reproach having sold well over a thousand homes in the last down turn. He has more experience in this than you have years on the planet. He is very realistic and fully understands what is going on. The auction was very expensive to undertake and they did it to see if it was a viable way to unload excess inventory. Lenders are not emotional, they only care about optimizing their bottomline. On top of that, if you said to him in person what you just said to me online he would kick your ass all the way to Jamul.
