Unfortunately the sellers lender isn't going to tell you what is owed on the loan. That is not how the process of buying a pre-foreclosure works.
When buying a condo, that is near foreclosure, the sellers lender wants market value or a net value they have in mind, and that is a process that won't be done without an offer submitted with the proper documentation provided.
Is this home on the market? Do you know the seller? If you know the seller you can ask them. If they don't know, they can ask their lender. If the property is listed for sale, get yourself a real estate agent and they can walk you through the process. Mind you, it is not a fast process. And, sometimes, sellers have had enough and don't care any longer and just walk away.
Hope this helps a bit
First Coast Realty Associates
If the property has had the notice of default filed, the amount in arrears is public information. That only tells you how behind they are. If the notice of sale or motion for summary judgment has been filed, the amount of the original indebtedness is listed as public information but at the end of the day, you are only going to find out how behind they are and what they orignally borrowed, not how much they have left on the loan. Again, even knowing that, it doesn't have any bearing.
You may contact the Realtor in the area or check the courthouse record. It may disclose the balance on the property before the lender acquire the property.
Most of time I figured out the balance on my client mortgage.
Gloria J. Young
AllPro Realty Specialists, Inc.
This is a question the Seller may not know. We once had a short sale and the owners didn't realize that their home equity loan was part of their loan. Then we had a short sale last year where there was a second lien that not even the attorney negotiating the sale knew about until two days before closing.
An estoppel letter may be obtained by the Seller for the balances, but it costs money and frequently they don't want to spend anything on a property they are losing. And the seller can also call and ask for the payoff.
And to find that mysterious second lien, a title search had to be performed, which costs more money.
Be sure to work with a knowledgeable professional - Realtor or attorney - to guide you through this process.
Hope this was helpful.
Coldwell Banker Vanguard Realty