AngelMG 0 Report post Posted November 25, 2003 I'm considering doing a short sale on a property I had planned to take subject to. I got the short sale package from the bank and have a question about one thing that it says: Short Refinance should have a loan total value (LTV) of at least 80% Do you know what this means? Share this post Link to post Share on other sites
Mark in St. Louis 0 Report post Posted November 25, 2003 Are you saying that this is in their short sale package they sent you? If it is, then they are basically saying that they won't entertain any offers below an 80% LTV (loan to value). In other words, if the house has a fair market value of $100,000, then the least they will consider is $80,000. What is the house worth, and what is the current payoff amount? Share this post Link to post Share on other sites
