Is that information publicly available? Looking at records filed in the county (Collin, Tx. & Dallas, Tx) seems to reveal only the amount of the original loan. For so-called short sales, knowing how much is owed on the property is essential. Subscription listings always list that info. Where do they get it?
2006-10-30 08:30:50 · 5 answers · asked by iletras 1 in Business & Finance ➔ Renting & Real Estate
They probably calculate from the time the loan was orginated to the time of default and figure out what the default amount is. If you have a financial calculator you can figure it out. Example
300k mortgage @6% for 30yrs is 1,798.65 a month
Owner defaults after one year; balance is $296,315.96.
2006-10-30 08:54:07 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
In Missouri a mortgage and amount is of public record and can be found at the Courthouse where property is located. Not sure about Texas. Also its a good idea to have a Title co run a Check not a full blown title on the property but to check what other liens could be on the property and after foreclosure what could still be in addition to the 1st mortgage...
Myself your probably better off looking thru a Real Estate company as you will find soft spots easier. Usually foreclosures there will be many other defects not only on the title but the property its self. But to each there own. Good Luck in your purchase...
2006-10-30 16:51:27 · answer #2 · answered by Scott 6 · 0⤊ 0⤋
Foreclosure lists use the public court records and credit reporting agencies to get their info.
The best way to find the actual payoff is to get the current home owners permission to contact thier lender and request a payoff. All other methods are inaccurate; they dont take into account late fees and legal fees. You would also need to search the property for other liens, late taxes, and/or sewer bills. It's a good idea to find out if the property is involved in a bankruptcy too.
Foreclosure lists do no go through this much trouble, thats why their information is mostly inaccurate.
2006-11-01 02:49:34 · answer #3 · answered by foreclosurefish.com 1 · 0⤊ 0⤋
A lot of information about Foreclosures is public. If the home has already been foreclosed- post auction - then the back is probably selling it for a little over what was owned. On a pre-foreclosure, it is not available. You have to actually contact the owner and find out that much.
Online listings make gathering that information a whole lot easier. I would try Foreclosure.com.
Happy hunting!
2006-10-31 09:24:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋
M husband and I own land. U can go to your county tax office and they will give it to u that's what they are for, it's a matter of public record. If they say no which I doubt they will tell them u want to speak to someone in tax appraisals office and u have a sure thing. Wish u luck, nice way to fine out it's that simple.
2006-10-30 16:38:44 · answer #5 · answered by vickie p 3 · 0⤊ 0⤋