Is this a Short Sale opportunity? (Pittsburgh area)
ARV: $190k
Owe: $113,5XX
PITI: $1,153 (current now, but they are going to stop making payments: divorce situation)
5.4% APR (30 year started 2/1/2006)
Lender: US Bank
Repairs needed $65k (ex husband gutted most of the house and started rehabbing but there is a LOT left to do!)
I'm looking to get it for $58,500 or better....
Thoughts? Is this worth pursuing? Am I missing any information?