Amindia, Home Buyer in 33401

How do I find out how much the mortgage amount is left on a foreclosure?

Asked by Amindia, 33401 Tue Feb 3, 2009

where would I search to find out

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Answers

6
Do you know the address? or an MLS listing number?

You can make a fairly educated guess by looking at some public record websites:

http://www.co.palm-beach.fl.us/papa/aspx/GeneralSearch/Gener…

This will tell you who the owner (or former owner if foreclosure is completed) is. This will also give you the legal description.

then look for the owner (or former) under :

http://oris.co.palm-beach.fl.us/or_web1/or_sch_1.asp

.The results of your search are not the most user friendly you will find but you can look for a record with a "Type" of "MTG" and a legal description that matched the Property Appraisers website.

Some of the mortgage documents will actually show the interest rate (if it was an adjustable rate mortgage) and when the loan term commenced which means you could figure it out with a financial calculator. IF it is a fixed rate mortgage the best you could do is take the date the mortgage commenced and look at a service like http://www.freddiemac.com/pmms/pmms30.htm and estimate what the rate was at the time the mortgage was consumated, then use a financial calculator to figure the aproximate balance.

I estimate it costs a lender $50,000 to foreclose so figure that into your calculations if your goal is to make a "fair" offer.
1 vote Thank Flag Link Wed Feb 4, 2009
Dear Amindia,

If you cantact me directly I can provide you this information. You have to have a subscription to a foreclosure service in order to obtain this information or be a member of MLS.

Best Regards,
Kris Persaud
Realtor
Keyes Real Estate, Mortgage & Title
Mobile: (561) 310-8471
Email: krispersaud@keyes.com
0 votes Thank Flag Link Tue Aug 25, 2009
Hi Amindia,

If you just got foreclosed on and this deficiency is against you can try to settle for less than what is owed. Make sure that you get a release from the full amount in acceptance of the lower settled amount and that you are settled in full moving forward. Good luck!
0 votes Thank Flag Link Sun Jul 19, 2009
There is no mortgage left after foreclosure therefore there is no mortgage amount. There is a dificiency amount. You can take the judgement amount and minus it from the sale price when the bank sells the property as an REO and that will be the dificency amount on ar about as there may be other costs if the dificency is pursued.
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Sun Jul 19, 2009
Your local Realtor can help you with this info. Keep in mind that the mortgage amount will have nothing to do with the sales price...it's all about makret value. The bank will want to maximie it's profits.
0 votes Thank Flag Link Wed Feb 4, 2009
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
That is private information that belongs to the bank. The bank buys the house back at the foreclosure sale, and then puts in on the market for about its market value! You can get a good deal from a foreclosure sale, but it won't necessarily be a fire sale. You can probably make a guestimate by looking at the price and how long the house has been owned, but there isn't a search that will give you that kind of direct information. Good Luck, and happy hunting!!

Myke
http://www.DestinHomeSale.com
http://www.NicevilleHomeSales.com
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Tue Feb 3, 2009
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