Help deciphering this example?

Question

Hi Everyone! If any of you have the time, would you mind looking at he below cut and paste from a Property that is currently on AuctiondotCom.  This is from the "title information" that is listed on Auctiondotcom's site.  My questions with it basically revolve around how much $ is still owed on this property...is it possible to glean how much the bank is owed from this mortgage information on the title report?  I realize that there could be many other liens in various positions, besides the mortgage..really just curious if this title report offered on the listing is worth even looking at?

• MORTGAGE INFORMATION:  							MORTGAGE

MORTGAGE

Borrower: Borrower

Lender: "MERS" is Mortgage Electronic Registration Systems, Inc., as nominee forHomestead Funding Corp

Amount: $253,255.00

Dated: January 23, 2009 Recorded: January 29, 2009

Document No.: 01 2009 540

ASSIGNMENT

Assignor:"MERS" is Mortgage Electronic Registration Systems, Inc., as nominee for Homestead Funding Corp

Assignee: Bank of America, NA

Dated: August 8, 2012

Recorded: August 22, 2012

Document No.: 01 2012 3505A

ASSIGNMENT

Assignor: Bank of America, NA

Assignee: Nationstar Mortgage, LLC

Dated:June 20, 2013

Document No.: 01 2013 2568

Recorded: September 6, 2013

C. TAX INFORMATION: SEE ATTACHED

D. JUDGMENTS AND OTHER LIENS OF RECORD:1. Lis Pendens filed January 30, 2014 Index No. 14-490, to foreclose the Mortgage recorded

in Document No. 01 2009 540. Judgment of Foreclosure and Sale filed March 16, 2015.

Dave Currence · Answer

Thanks, @Ned Carey! I see your point, and thanks again for the reply!

Ned Carey · Answer

There is no way to know how much is owed other than finding out from the lender. Unless you are the owner or authorized by the owner you will not get that info. If a mortgage foreclosure has been  filed then the amount owed should be listed in the foreclosure. However this amount can change slightly do to interest and legal fees that continue to accrue

The bottom line is "Why does it matter"  how much is owed does not change how much the property is worth. And the lender if free to accept a bid below what is owed.