where do I find how much is owed on a foreclosure property?

Asked by Bj, Sandy Ridge, PA Sun Sep 11, 2011

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19
Barbara Klare, Agent, Fort Myers, FL
Mon Sep 12, 2011
How much is owed on a foreclosure is public information. Your Realtor would know where to find out the amount of the judgment.

But as a potential buyer of a foreclosed home, the amount is irrelevant. The bank will sell the home at market value. The current market value will determine the listing price. That would have little to do with the amount of loss the bank has taken.

Barbara Klare
Gulf Coast Realty
cell: 239-292-1358
e-mail: bklare@comcast.net
http://www.cape-coral-foreclosure.com
2 votes
banks never loose $ they just lose the money it was trying to create via it's ability to steal everyone's hard earned $ by the bogus system using compound interest. If you rent a car for a week do you pay compound interest on the vehicle's value for that time you "borrowed" it? No you paid a flat fee for the time you borrowed the car. ( this car is the same thing as a bucket of money one may borrow for a short amount of time thus rent from a bank!) Why can't simple logic like this be used when borrowing / renting a bucket of cash from the bank? These bankers steal "TIME" from the lives of all grantee's"!
The grantee trades his health, body, family time, etc. for $'s. This Trade or $'s for time worked is not income.... because it is not profit! u lost time and gained $'s thus 0 loss and 0 gain(profit) occurs in a fair trade. Never let a bank or anyone steal your life once you become aware of this logic, so u spread it and change will come!
BANKS NEVER LOOSE $$$$$$$$$$$$$$!
Flag Thu Aug 31, 2017
wrong, foreclosure; bank tries to recover as much as they can on the amount outstanding
mortgage/loan, it has nothing to do with real estate market values unless it is a very small bank or trust company ("B" type institutions) trying to get back the full amount plus, but in general the "A" banks don't like to be in the business of owning houses.
Flag Mon Aug 21, 2017
What if the home was foreclosed due to an HOA lien claim? Wouldn't the foreclosure purchaser also be responsible for the leftover mortgage? How can you find out how much is still owed on that mortgage?
Flag Thu Apr 6, 2017
trulia, Home Buyer, Del Rio, TX
Fri Jun 20, 2014
I disagree with all of u saying what is owed on a house foreclosed or not foreclosed on doesn't matter. It absolutely matters. Knowing what they owe tells you what they are able to sell it for. The less they owe the more flexible they are resulting in the buyer paying much less than asking price. Usually the longer it's been on the market the more eager they are to sell.
1 vote
If a homeowner defaulted on their loan of $150.000 dollars that information is valuable to know compared to perhaps the owners defaulted on $50,000 dollars left on their mortgage. I am trying to understand this as well so if I am totally wrong in my thinking let me know. On a $200,000 dollar mortgage at a $150,000 default I am assuming the bank is going to hold firmly to getting that amount back. But if they list that same house for sale on the market for $150,000 dollars but the amount of the default was $50,000 IS THIS NOT THE WHOLLY GRAIL OF INFORMATION FOR A BUYER IN THE WORLD OF FORECLOSURES??? Does this information not give the buyer a position of negotiating power to score the kind of deals that the whole lure of "Foreclosure" mystique and intrique is all about?
Flag Mon Jun 1, 2015
Thank you I agree completely.
Flag Mon Jun 1, 2015
Ed Beck, Agent, Boonton, NJ
Tue Sep 13, 2011
Nothing is owed. There is no mortgage. The bank owns it.
1 vote
humm, the property the bank acquired because the person that borrowed money from said bank to purchase said property stopped repaying the $ they borrowed from the bank to buy said property... so bank loans Bob $100,000 which he uses to buy a property, then after years of being stuck giving more than half of his monthly payments away via interest $ to the bank, Bob died after paying back half of the amount he borrowed - $50,000... So the bank will never get Dead Bob to payback the other $50,000... The property was only worth $50,000 when Bob bought it. The bank just lost it's ability to recoup the interest it was trying to make off poor blue collar dead Bob. The bank did get the $50,000 in real $ it had paid for said property so Bob could own it. Their only loss in the real is the $ they were planning on getting from Bob, thus it's gamble to create 50k with 50k failed, sorta. the house is theirs now and they got their $ it lended to bob. So the property is worth now? 0?
Flag Thu Aug 31, 2017
Carlos Escam…, Agent, Miami, FL
Sun Sep 11, 2011
A foreclosure property is owned and clear owned by the bank, no mortgage, Association fees are taking care by the bank, No other lien all of them are paid of at the foreclosure sale.
Web Reference:  http://www.soldbuyrent.com
1 vote
Yolande Citro, Agent, Miami, FL
Sun Sep 11, 2011
It does not matter what is owed but it is easy to see since it is public information in Miami Dade.
If you want to see on the MLS all foreclosure listings, click on my website and search for properties and then click on "FORECLOSURE" . Thank you.
Web Reference:  http://www.yolandecitro.com/
1 vote
Anna M Brocco, Agent, Williston Park, NY
Sun Sep 11, 2011
Keep in mind that the amount owed has no bearing on market value, therefore not sure why the curiousity...if looking to buy, consider working with an agent of your own, he/she can provide any necessary information...
1 vote
Spooby.42, Home Buyer, Dallas, TX
Tue Oct 17, 2017
So called private information is easily aquired about anyone like co-workers, your boss, that hottie you met via a friend! And then twist the search into what about property information... So use publicdata.com to see all people tied to an address. Then you can use the county CAD website to see the property information, like how much is the house your boss lives in or how long has he lived there? Is he being a honest citizen my paying the actual amount of property tax each year? Or are they letting the lazy govt appraisers allow the value of the home to drop so they can cheat on the amount of taxes they pay each year? I wonder how much trouble can be stirred up for the owner that cheated the govt out of the tax $ they should have been paying when their house sells for a significant amount more than what the CAD site shows? and to those who knew about these people that cheated the govt of taxes? guilty I say is anyone that justifies a lie is ok ever for any reason! Your lies will be what haunts you some day unless you are a sociopath! Good luck trusting an agent that is trained to withhold information and also feed buyers bogus lies. You agents that are totally honest, I would say you will be rewarded for your honest heart! I wish no ill-will to those that choose to sin, i just wish that you would change your ways , thus being the change that that you want to see! Leak Project is the way the unknown becomes known and the future will be better for all no matter how hard some try to resist the change for the better good of all people! Remember what it felt like to give to someone that really needed help and was ever so thankful without saying it out loud, yet you could see it in their eyes? You that have so much to share
0 votes
Usachefemmett, Home Buyer, Miami, FL
Mon Dec 28, 2015
A bank has listed a property they foreclosed on. Later paid a certain amount in foreclosure proceedings. How can one understand how much the bank really has in it in order to be able to negotiate better with the bank. The prior owner, stole all of the paddock fencing and property needs including the main house needs some substantial work. We want to pay a fair price and the bank should recover their investment plus lost mortgage outstanding. However, property also requires some reasonable investment to bring it back to a normal status.

The house gone down in value in the Florida market due to its normal down turn. An inspection has been done and an appraisal will be done soon. How to negotiate with bank. We are real buyers looking to live their ,not just flip it. How and what are the banks motivations. It is in the 450-500,000 range, with limited lookers due to the condition of the horse property portion- paddock fencing all stolen, barn requires repairs, etc etc most of the repairs required are due to vandalism, not property age.

Help--thanks
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Sun Jun 22, 2014
Right, thanks for the question.

If you know of a Realtor s/he can get you that info.

Another source will be Title Companies.

Lastly, you can go to County Recorsd, it's also likely that you
Can attend a Foreclosure on Court steps. At that location, a vendor
Or two will provide with you Lists of upcoming REO sales, and other details.

Good luck
Perry

http://www.ruthandperry.com
0 votes
TitleService, , Panama City Beach, FL
Sun Jun 22, 2014
Please check foreclosure judgment/order that is available in the local court and public records.
0 votes
Alma Kee, Agent, Tampa, FL
Tue Sep 13, 2011
As mentioned earlier, the amount owned on a Pre-Foreclosure, Short Sale or a property that has already gone through the courthouse foreclosure auction and was now taken back by the lender is irrelevant.

You see, what is owed has no bearing on what a buyer would be willing to pay in the current market.

If you're looking at Pre-foreclosure, Short Sales, the important things to know is if there is PMI, 2nd mortgage, HOA/Condo Liens, Mechanics Liens, IRS Liens, etc. All of those will need to be paid off and the more things the more complicated it becomes.

Find a local Realtor to help you find the right property at the right price. Go for a true bargain, a bank owned.

All the best,
Alma
http://www.SoldOnTampa.com
0 votes
Alex Lopez, , South Florida, FL
Mon Sep 12, 2011
The largest database of foreclosure and pre foreclosure or short sale listings in the country is
http://www.realtytrac.com/gateway_co.asp?accnt=168899&pa…

It is not free but it is definitely the best. It is the MLS of foreclosure properties and it shows how much the liens are fore. They offer a free trial..

Also, these guys process and negotiate short sale transactions, and deal foreclosure properties. They have processed several short sale deals for my company and they have very up to date information so you can check with them about specific properties in Florida: http://www.priorityshortsales.com
0 votes
Vivian Laino, Agent, Sunny Isles Beach, FL
Sun Sep 11, 2011
The total amount we don't have, what it shows is the unpaid mortgage amount, the total against the owner includes past dues taxes, HOA fees, collection fees, court cost, etc...
0 votes
Attilio Adamo, Agent, Closter, NJ
Sun Sep 11, 2011
Ask your loacl Realtor. He/she would have access to this information. You can always visit your County department where all closings are recorded.
Good luck
0 votes
Kevin Clouti…, Agent, Cape Coral, FL
Sun Sep 11, 2011
Simply ask your buyers agent. All this
0 votes
Raisa Araya, Agent, Doral, FL
Sun Sep 11, 2011
Hi Bj, I agree with Anna, you do not need to know that. But call your realtor, if he/she do not have much to do, they may find that for you.
0 votes
Bob Galivan, Agent, South Miami, FL
Sun Sep 11, 2011
If the property has been foreclosed, then it will be in public records (http://www.miami-dadeclerk.com). If it has not been foreclosed, you can use that same link to find the recorded mortgage; you can also ask a Realtor to see if there is a sale or tax record showing the purchase price and mortgage amount.

If your reason to discover that info is from a desire to purchase a home, then it has little bearing. The ultimate aribiter of the purchase price is what the market determines as the value. In a short sale, your Realtor will make a recommendation as to what an appropriate offer price would be, but ultimately, the investor who owns the note will decide what they are willing to accept. That decision is based on an independant determination of market value, as well as what the investor's ultimate goal might be.

If the property is foreclosed, then the asking price was set by both the bank and the listing Realtor. If the house is newly on the market, then there will be little flexibility. If the house has been on the market for more than 90 days, and there has been no price reduction, then there will be more flexibility. If there has been a reduction, then in most cases, the banks will not consider an offer that is more than 5% from their asking.
Web Reference:  http://www.myriamsHomes.com
0 votes
Don't you owe the back taxes or any liens on a forclosed property that is bank owned?
Flag Sun Feb 22, 2015
Jose Gonzalez, Agent, MIami, FL
Sun Sep 11, 2011
Hi BJ,
The county tax roll public records displays the original lienholder on a property. You would need to delve deeper to find any additional liens recorded against a property by any subsequent refinances or lines of credit obtained by the owner. This would need to be done as part of a title search. This, however, would not give you the current balance owed to the lenders, only the original amounts of the liens. The only way to get the full amount owed is from the lenders themselves or by running the credit report of the account holder.

Do you need this info because you are interested in a particular property or are you trying to help someone out? Please feel free to contact me at 305-992-8624 or through my website and I will be more than happy to assist you with any of your real estate needs. I have over 15 yrs experience helping buyers and sellers in the South Florida market and would love to help you meet yours.
Good Luck!
Jose I. Gonzalez
Xcellence Realty
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Sep 11, 2011
we have no way of looking that up;
it is confidentialk imformation.
how would you like it if your information was made public?

this wouldn't do you any good anyway,
the bank wants, what they want!
0 votes
Banks want nothing because they are just buildings, people are the source that take advantage of other less fortunate / educated / gov't protected citizens. Some banks are just an fabrication within a computer's memory! Agents never can just say how they would find such info! Crooks I say! If i charged you agents for every time you pushed a button on a keyboard, would I not be acting like a agent in real estate? Watch Mr Robot! It is totally possible, but who will have the rage to do such a thing? How much must one lose and be denied assistance and healthcare before they use the disrespected skills that one acquired while the figures worshiping employers failed to understand his true value/risks! Screw helping others, right,!? Just help yourself as much as possible! GOD and/or your own conscious won't care right!?
Flag Tue Oct 17, 2017
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