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Message
Foreclosure bid
Posted on 8/18/13 at 12:52 pm
Posted on 8/18/13 at 12:52 pm
any ideas on how much of a percentage discount (from tax appraised value) is a good opening bid for a foreclosure property. property is valued at 96,000 for taxes. previous owners lived in house for over 18 years (house app. 24 years old) so balance owed to mortgage company may be lower than normal.
also, any ideas on how to find out how much is owed to mortgage company.
also, any ideas on how to find out how much is owed to mortgage company.
2
Posted on 8/18/13 at 1:10 pm to oldschoolgreats
quote:
So balance owed to mortgage company may be lower than normal
Not if they tapped the LTV with a refi.
quote:
any ideas on how to find out how much is owed to mortgage company
Check recorded deed at courthouse for original balance.
But dont worry about that. Just make an offer. The bank is losing no matter what.
Posted on 8/18/13 at 6:41 pm to oldschoolgreats
quote:
any ideas on how to find out how much is owed to mortgage company.
Does your county have records online? Usually you can type in the address in the tax records and get the name of the owner. Then go to deeds and records and do a search. Should be able to find the sale, sale amount and mortgage. My county has records from early 90's with link to PDF.
If not you are going to have to go to the courthouse, and that can be an adventure if you have never done it.
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