Anyone settle a 2nd with equity?

[pcn]

Yes, I know, that sounds crazy. I was wondering though, given the costs to foreclose, if it was possible to settle if the offer was good enough. For example, if 5% was the norm to settle, if someone had 5k equity would the bank take an offer of 5%+5k? I would think so, but logic doesn't apply when dealing with banks. I have seen very few "settlers" posting here, so don't expect much response, but we're about to go down that road and the more background I can have to know what to expect the better. So, any unicorns out there?