All Forum Posts by: Joshua Walters

I actually contacted the bank and they said that they would give me 3 months to sell the property. The also told me that the pay off is $228,000. They would tell me what the payments were or if the mortgage is in default. I also listed the property ($595,000). So hopefully I make at at least $350,000. Not bad for one deal...

I am in Florida. The Mortgage is in first position. No their are not any other liens on the property. I am looking for a new attorney because I asked this question to my current attorney and he wasnt sure... My plan was to list the property at a discounted price (maybe $575,000), and then pay off the mortgage straight out of closing. Do you think this is a good idea? The bank has to release the information about the loan, right?

I bought this home from an HOA foreclosure auction. The house is worth $650,000 (conservatively). The previous homeowner took out a mortgage for $275,000. Since I bought it from an HOA foreclosure auction, I know the mortgage is a surviving lien on the property. My question is, do I have the right to payoff that mortgage? Also, do I have the right to get more information about the mortgage (like the balance, payments, etc.)? Thanks :D