short sale assesment help

[John DiCanio]

I have been recently getting involved in SS many people are saying most banks take a 30% off of what the balance is. then there are people saying that there is a mathmatical equation that works every time. putting together amount in arreas any repairs BPO value declining market for 6 months and what it would cost them to forclose if anybody can help me with this equation it would be great. i would love to have a mentor in this arena because the new york market is up in the air right now. i have a ton of deals i just dont want them to get denied.