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Updated about 10 years ago on . Most recent reply

Laura Turner's profile image
Laura Turner's profile image
Laura Turner
  • from Lancaster, PA
  • Member since Nov 22, 2014
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Laura Turner's profile image
Laura Turner's profile image
Laura Turner
  • from Lancaster, PA
  • Member since Nov 22, 2014
Connect
Laura Turner
  • Lancaster, PA
4
Votes |
29
Posts
General Real Estate Investing

short sale that has FHA mortgage

Laura Turner
  • Lancaster, PA
Posted

I've heard that on a short sale, a bank will accept a certain percentage of their appraised value, which varies depending on several things, including whether the existing mortgage that's in default is FHA.

What's the percentage for a property with an existing FHA mortgage?

How do I find out if it has an FHA mortgage?

What other factors will influence the bank's required %?

Thank you.

btw there is NOTHING short about a short sale

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