Mortgage Balance Payoff Question

Client Question: Mortgage Balance Payoff

This client question article explains how to calculate current mortgage balances and to calculate and obtain mortgage balance payoff info to satisfy loans.

Question:

Hello,

I recently purchased a property detail report from your company for $19.95 I was inquiring to see if there is any way to find out how much is owed on a mortgage. I’m looking to bid on a foreclosure of a person who is deceased and I knew how much his loan was for, he got the loan in 2003 so I was trying to figure out if there was any way to find what the amount owed is.

Any help appreciated!

Thank You,

Christine T.

Answer:

Hello, the majority of our clients purchasing property including auctions and foreclosures use the Full property/owner lien report or the Property lien report located on the property records page of the site for due diligence.

Mortgage payoff information would need to be obtained from the mortgage company. Only the original amount of the loan is recorded. You can also calculate the current mortgage by the rate and term of a loan.

Thank you,
Jessie M.
Customer support team