how do i find out what mortgage is on foreclosure auction?

[Account Closed]

my partner told me to find out how much is on the mortgage because i am going to a foreclosure auction on monday.  i am registered to a website that gives all the auction dates and where it is at and the attorney office etc.

i dont think it tells me where how much is on the mortgage though.

and why would it matter how much is on the mortgage for a foreclosure? i thought the bank is just trying to make back whatever they can at this point

[Rocky V.]

@Account Closed

Recommend going to the auction and observing before bidding.  You can calculate min bid amount by putting original loan amount into a mortgage calculator with assumptions of a 30 year note and interest of 7-8%.  This will give you a general note balance.  I have been fortunate at buying at Trustee Auctions and would encourage you to go and bid.  Some banks are placing minimum bids below note balance.  I enjoy the fact that I wake up at 5 the day of auction view 8-12 properties, attend auction and know within minutes if I am the new owner of another property.  This all takes place before noon.  Make sure you perform your due diligence.  Best of Luck!