They're not immediately repoing the property much less selling it. It's a point of contention in the US anyway that first mortgagees, who are invariably bondhol

They're not immediately repoing the property much less selling it. It's a point of contention in the US anyway that first mortgagees, who are invariably bondholders rather than banks, are leaving the properties vacant and unmaintained post-default to avoid maintenance and other obligations, often for many years, contributing to neighborhood blight and deteriorating property values.