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Updated almost 8 years ago,
finding a ballpark figure for payoff
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