How To Find Out What Mortgage Is Owed On A Property?

Hi,
I've read that in attempting to flip, or make an offer on a foreclosed property, it is useful information to know what amount is owed, so that you can calculate what equity is built into the deal?

Is there a way of finding that out without leaving my computer - some data service online that will give or sell you that information?

Thanks.

Glyn

Comments(2)

  • myfrogger13th October, 2004

    Yes your county recorder online records.

    You'll get the origional principal balance of the loan which allows you to get a rough idea what the current balance is.

    John Locke also mentions that he uses another service that has statistics on average down payment and average interest rate for a particular area. This would be great information but I can't seem to find a service that does in my area.

  • GR8RealEstate13th October, 2004

    Unfortunately, Los Angeles county doesn't have online access. However, you can order the info online and have it mailed to you. Registrar Recorder / County Clerk of Los Angeles

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