I'm trying up predict the upset price on the foreclosure auction of a VA insured loan in Georgia and am not sure if I'm off base in my calculations. The original mortgage was only a year ago and believe the property will likely appraise for the original sales price. I'm just not sure if the bank/servicer are obliged to bid the market price minus the Net Value cost factor (15.95%) or the balance of the loan. Anyone have any guidance or experience with calculating an estimated upset bid for a VA backed mortgage foreclosure at auction?