Opening Bid way below amount owed

[Jacob Lemberg]

hi everyone, I'm brand new here and have a question about a certain property. I hope this is allowed. The property in question has a $30,000 opening bid, but $127,000 is owed on the mortgage (which is probably about what it's worth). I know that there is also less than $10,000 in back taxes as well. Would the bank really start this low just to get it off their hands? Here is a link to the property I question. https://www.auction.com/washington/residential-auction-asset/1858576-17877-10220-foss-river-place-northeast-skykomish-wa-98288-e_3250