Can we get payoff amount on loan #0016773632?

Asked by Fred, 30362 Mon Apr 18, 2011

We are 2nd lein holder and have been told the house at 29363 Riley Rd in Waller, Tx 77484 is going to go into foreclosure or a short sale. Could you help us and let us know if this if true?

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5
, ,
Mon Apr 18, 2011
Trulia is a a real estate web site. The site contains real estate listings and real estate related infomation. The site doesnt provide other services liek ordering pay offs. Only someone with the borrower's written consent can ever order a pay off on a mortgage. There are privacy laws in place that provide for that protection.

If the home is going into foreclosure, it must be advertised in the local paper of record for that county.

Rodney Mason
Sr Loan Officer / FHA 203K Renovation / HomePath Specialist
Prospect Mortgage
Atlanta, GA
(404) 591-2453
NMLS #151088
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in AL & GA
1 vote
Sonya, , Atlanta, GA
Mon Apr 18, 2011
I will research it. Email me at sonyadjones@gmail.com, so that I can privately answer since the information will be confidential. Thanks!

Sincerely,

Sonya
0 votes
Jeffrey K. C…, Agent, Hiram, GA
Mon Apr 18, 2011
Fred you you are the only one who can request a payoff. I can't speak to texas law but here in Georgia the second lien holder is subordinate to the first lien holder. Again while I can't speak to Texas law, you may very well end up with nothing.
0 votes
Scott Butcher, , Austin, TX
Mon Apr 18, 2011
This will cost you money, but probably well worth it if your risking your 2nd lien capital.

You can buy a foreclosure report from the Roddy Foreclosure Report or Rex Report. They publish monthly foreclosure information. Not sure if they cover Waller, TX though. The risk is that these services don't get a posting report from the required agency

also check http://www.pbfcm.com. They are 1 of 4 law firms in texas that specialize in Foreclosure property & Tax Sales. I can't remember the names of the other 3.

Also, I suggest contacting the local Sheriff's office in the county which Waller is located at the County seat where the foreclosure listings are read once a month on the 1st Tuesday of the month.

let me know if you need to refinance out of what sounds like your Seller Financed 2nd lien.

Good luck
0 votes
Ken Cook, , Atlanta, GA
Mon Apr 18, 2011
If you are the second lien holder you can request the payoff on the first. You need to contact the servicer directly, give them proof of your second position and the buyer's authorization, and they can provide you the information you need including if they have authorized a short sale. In some states the second lien holder has a way to initiate foreclosure but never in front of the first. You really should be consulting a licensed asset protection attorney in the state of Texas.
Web Reference:  http://kennycook.com
0 votes
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