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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Available equity... Posted by Ward-CA- on April 06, 2004 at 0:00 AM In Reply to: verify equity posted by Hank on April 05, 2004 at 6:24 PM : Hello, I'm learning about foreclosures and wondered how one verifies the loan amounts against a property. I understand simply asking the owner might work, if they were upright and honest about it, but suppose the owner "forgot" or had a "lapse of memory" about loan amounts? How would you verify loans amounts against a property using online means? : Regards, : -Hank ======================= Hank, Fortunately, most of the recorded liens (voluntary or involuntary) against the title of real property have a discernible beginning amount. From that point, all you really need is an amortizing calculator (like the Hewlett Packard 12C), an historical home loan interest rate schedule and the various late charge rates for loans and taxes. Of course, current lien balances have to be subtracted from the current fair market value of a property to arrive at the potential gross equity available. Hope this helps. Follow Ups: Re: Available equity... Hank 10:38 AM, 04/06/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hello, I'm learning about foreclosures and wondered how one verifies the loan amounts against a property. I understand simply asking the owner might work, if they were upright and honest about it, but suppose the owner "forgot" or had a "lapse of memory" about loan amounts? How would you verify loans amounts against a property using online means? : : Regards, : : -Hank : ======================= : Hank, : Fortunately, most of the recorded liens (voluntary or involuntary) against the title of real property have a discernible beginning amount. : From that point, all you really need is an amortizing calculator (like the Hewlett Packard 12C), an historical home loan interest rate schedule and the various late charge rates for loans and taxes. : Of course, current lien balances have to be subtracted from the current fair market value of a property to arrive at the potential gross equity available. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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