Is there a way to figure out how much equity a foreclosure has?

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Hi everyone, this seems like such a basic question but I was hoping someone might be able to give me a full understanding. I have a leads list that gives me the following: Estimated value Estimated total loan balance Assessed value I'm thinking I can just subtract est. loan balance from the estimated value to get my estimated equity... Am I thinking this through right? From here if there's a large negative difference could I determine if a foreclosure is a potential short sale candidate? I might be all mixed up here but any feedback again very appreciated!