Nottingham, MD · Member since 2014 · 109 posts · 37 votes
Hi Bp,
Is it possible to find information on a properties owner regarding their current mortgage and home equity other then using a list service provider. I understand that it is easier to use one of these services instead of spending my time, but I like to have some experience in doing things like this type of research. I'm the type of person who likes to know how a car works not just how to drive it.
Investor/Landlord · Farmington Hills, MI · Member since 2011 · 1k+ posts · 1k+ votes
11y
You can't get this information exactly without the owner's permission but you can estimate it fairly closely. Mortgages are recorded on the public record. The record will show the amount of the lien and the date it was recorded. If you estimate what the interest rate was at the time the mortgage was recorded and the term of the mortgage (most are 15, 20 or 30 years) you can estimate the loan balance if the payments have been current from the date of the recording. This should give you a very good idea of whether the owner has a large equity position, a small one, or whether they are likely to be underwater.
Investor · Phoenix, AZ · Member since 2014 · 15 posts · 8 votes
11y
You may be able to search your county tax collector's website or the assessor's website to find who owns the property. Then search the county recorder's office for recorded documents for the property owner since the date the owner purchased the property. If you're lucky there will be only a few documents (deed and mortgage/trust deed). There can be many documents if the owner also owns other real property in the county, and also if s/he has refinanced or received an equity loan since acquiring the property.
Two other options are (1) to connect with a local Realtor who will do this research for you in the hope of representing you when you are ready to buy, or (2) contact a local title company representative and explain what you are going to do and what you want. They may help with the expectation that you will use that title company for your transactions.
Specialist · Sibley, LA · Member since 2014 · 1k+ posts · 190 votes
11y
@Keith Belzner The best way to do this is by having them contact you directly. Have them run over to your website when they'er a hot lead, and give you all the information you need. One of the best ways of doing this is by building an online presence, and allowing the leads to find you online.