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MRM is entirely correct (well he does drive a 964), the plan is to hype the property to the extant that a second tier lender will lend so much on the property that finishing it is rendered moot, no further profit to finish it.
The "Mountaintop" cited by the OP was sold at a foreclosure sale but it sold to the 3rd TD lender subject to the 1st 2 liens. So not for actual cash, the 3rd had to step in and now is servicing the 1st 2 loans
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