Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

10
Posts
0
Votes
Derrick Shipman
  • Real Estate Professional
  • Decatur, GA
0
Votes |
10
Posts

finding a ballpark figure for payoff

Derrick Shipman
  • Real Estate Professional
  • Decatur, GA
Posted

hello to all,

I am derrick shipman in Atlanta ,ga.i ran into a gentleman whose home is about to be foreclosed on 2-7-17.we both want to do a subject to.he contacted his mortgage company on this past Monday to try and get payoff figures (so I would know to the penny how much I would be assuming).here it is Friday evening and we cannot get a payoff -mortgage company is saying it takes 5 to 7 business days-problem is the foreclosure is this Tuesday.in light of that I wanted to know if anyone is experienced in guesstimation the payoff with the information I do have

this is on the 2/1/17 mortgage statement

1) outstanding principla balance $237,793.21

2) escrow balance (-6755.62) yes that is negative

3)total amount due 2-1-17 is $27890.22 which includes (25513.43 past due payments) plus (228.75 principal) plus (853.23 interest) plus (418.81 escrow) plus (15 late fee) plus (861 corporate advance)

4) the monthly payment is 1500.79 and his interest rate is 4.375

Loading replies...