I'm not exactly sure that's what she's saying. What she's saying is that she is, not to put too fine a point on it, fucked, and that if the banks foreclose they

I'm not exactly sure that's what she's saying. What she's saying is that she is, not to put too fine a point on it, fucked, and that if the banks foreclose they're likely to lose more money than if they try and work with her to render her situations less fucked. Not so long back, a client of ours ran into major trouble. They were left with two options - pay suppliers a percentage and then sell what was left, or put the company into bankruptcy and let the creditors work out who to pay what. We decided that a guaranteed percentage now and the continued goodwill of the people we'd worked with was a better deal than an undetermined amount at an undetermined later date - so we dealt (more accurately, our MD did; I don't really get involved in that side of things). So far as I'm concerned, the interesting question here is not whether or not she's an idiot, it's whether or not she's correct that providing the financing she needs would be a net win for her banks over foreclosing on the mortgage. I don't know enough myself to have any basis to make that call, but what's currently infuriating -me- is the fact most of the comments seem more interested in attacking the OP rather than discussing the financials :)