Check The Mortgage Status?
Hypothetical: In talking with the seller, he states he's current on his mortgage. I base all my figures on what should be a current balance. What happens when after the close when I find out that he lied? The mortgage is really 3 months late. Should I be checking the mortgage status prior to closing? Is there any recourse here with the seller?
Yes you should be checking before you close.[ Edited by miraclehomes on Date 07/25/2004 ]
How do I check? On John Locke's "Seller Information & Property Fact Sheet", there is a section for mtg information including address and phone number. Do I use that to just call the mortgage company? Aren't they not allowed to talk to me without a release signed by the owner?
Get a release, there is probably a form in Johns info.