How can I find out how much a homeowner owes on the mortgage?

[Ryan Cooper]

I'm in NM and I'm trying to find out what some of these homeowners owe on their mortgage prior to talking to them (pre-foreclosure).

Can you run a title search or is there a location at the courthouse where you can look this up?

Thanks in advance for your help.

[David Torres]

@Ryan Cooper there are a few ways to get a ball park idea on what people owe on their mortgage, but they are all more or less guesstimates.  The only way to get an exact number is to get a payoff letter from the bank.

You can however go down to the courthouse and see the mortgage paperwork.  It will give you an idea of what the original mortgage was for, a date, and an interest rate.  Then you can extrapolate some data based on an amortization table to see if it is worth pursuing.  If you want to sit down and talk, I would be happy to explain it to you.