short sale that has FHA mortgage
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