What is the lowest ltv that can work for a short sale. If I have someone in default and there currently at 85%cltv, is there too much equity in there for a bank to except a short sale? Would they have to be at 90% or more to make it work?
I wish there was a set rule. If there is I haven’t found it. The LTV is going to depend on the BPO. They may be at more than 85% LTV once that is done.