Food for Thought- Gordon Moss spoke at Paper Source Symposium last week from a 20/20 hind sight , the paraphrase comment was - Instead of taking so many hair cuts on commissions , I should have taken a percentage of the equity / property when asked to take a haircut. 

Either way you can sell the note on a secondary market but expect a hair cut unless it's high yield.

As opposed to taking a haircut selling an underwater refi'd property.  

If they can't find that person, the loan gets haircut. 

@Tony Ramos There are various ways of tapping in to them, but unless accessed due to certain events or hardships, retirement funds accessed early get quite a haircut.

Remember the old saying, "Never ask a barber if you need a haircut."

They're not going to take a haircut for you, but you can get it very close to what they paid, their legal fees and all accrued interest.The high bid premium is a circuit breaker to make sure the tax sale process rewards investors and penalized tax scofflaws, but stops short of the taxpayer being robbed of their property.

That isn't to say owner occupied can't be deals, but hard for me to see four years ago they bought it, and it's not in such horrible shape they are taking a serious hair cut to wholesale prices. 

If you price so you feel comfortable they will all move at roughly the same time that would be great but sometimes that means more of a haircut than one would like in a seller's market.A reverse exchange is certainly an option. 

Your barber thinks you are due for a hair cut.