Researching a mortgage with only a mortgage ID # and bank

New York, NY · Member since 2017 · 36 posts · 1 vote

With a mortgage identification number and the name of the bank, how can I research the status of the mortgage on a property? Will the bank speak directly to me about it? Or is there some public record of the mortgage? Thanks

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Chris SeveneyBusiness Member

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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

Jacob Stephen If you are not the borrower a bank will not talk to you about a mortgage. Think if it this way, could anyone call a bank to get info on another or any mortgage ? What are you specifically looking for about it?

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
9y
Jacob Stephen If you are not the borrower a bank will not talk to you about a mortgage. Think if it this way, could anyone call a bank to get info on another or any mortgage ? What are you specifically looking for about it?
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Jacob Stephen
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New York, NY · Member since 2017 · 36 posts · 1 vote
9y
Outstanding balance, delinquency status, current court action. I'm bidding on a tax lien and I'm interested in the outstanding mortgage on the property.
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Christopher Phillips
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
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Jacob Stephen Only an owner can give you that information. That's like calling a bank to get information on someone's savings or checking account... The notice of default will state total owed including penalties and back payments.
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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
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You will have to guess at the balance, and learn to use your local records to see if in foreclosure.
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Patrick Desjardins
Real Estate Investor · Amherst, VA · Member since 2015 · 386 posts · 400 votes
9y
You can't. You can usually find some information through the automated system IF you have the SSN, which I'm assuming you don't.
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Felix Goins
Mesa, AZ · Member since 2017 · 7 posts · 2 votes
9y
Just out of curiosity, if you are bidding on a tax lien, why are you interested in the mortgage? Doesn't the tax lien take the zero position before the mortgage like it does in other states or are you trying to get an idea of the mortgage company will pay off the lien and you get make some money on interest?
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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
9y
Jacob Stephen You can run an O&E report, but if it's a tax lien why would you care what the balance is. I would be more interested in who owns the note as if it is a large hedge fund sometimes they are not aware of the tax lien and you may be able to get it at foreclosure
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Jacob Stephen
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New York, NY · Member since 2017 · 36 posts · 1 vote
9y
I want to know if the bank who owns the mortgage will a) show up to bid; b) compare the mortgage balance to the market value and see if there's a spread. If the mortgage balance is small I'm hoping the bank will choose not to bid on it. I just want to know the other participants incentives.
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Jacob Stephen
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New York, NY · Member since 2017 · 36 posts · 1 vote
9y
@chris Is an o&e report public information freely available on the internet? Thx
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