It is also a market with outstanding historical appreciation.  

I will have to do a title search before the auction to see if there are any outstanding debt against the property.

We have searches now outstanding over a week and it really is slowing us down on our deals.Thanks!

It also prevents issues with lenders complaining "you already have too many mortgages outstanding".

The Houston economy is outstandingly resilient.

The average consumer won't feel the impact of this minor change and it will in effect allow the US to dramatically devalue our outstanding debt.  

It's not a simple process, as they first have to foreclose on the existing property, attempt to sell it at a reasonable cost to minimize their losses, then file a suit against you and win that suit for any outstanding balance.

Also, if a deal is secured where the bank gets their amount outstanding due, is there a lot of red tape that would create a slow closing or put the deal at risk?

It's YOUR choice.I currently have $30,613,750 in outstanding loans, and payments of (damn, can this be right?)

Call the city building department and see if there are outstanding code violations.6.