Reply #1: banks are not in the property management business

[Sen. Walter Sobchak]

Banks are not too great at managing distressed assets, be they houses, airplanes or cars – they really just want to get rid of them and off their balance sheet as quickly as possible. They want distressed assets to be as unencumbered as possible for ease of sale, it can be difficult to sell occupied dwellings depending on the tenant protections in a given jurisdiction. I'm not saying it is right or even practical - after all a vacant home in Florida is more likely to become a meth lab or be stripped for metal than find a buyer who will cover a significant portion of the banks loss.