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
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.
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