[reggedtorespond]

That's false. If the proceeds of the foreclosure sale exceed the amount of debt and foreclosure costs the homeowner is issued a check for the difference. This makes it so banks do not have extra incentive to foreclose on homeowners. This would be a good solution to the problem in this article.

[vannevar]

Yes, I'm wrong. Only in REO cases does the bank keep the entire amount. Not sure how common REOs are versus property tax seizures.