I assume the title company contacts the mortgage company for a precise pay off amount.But how are you able to close on the house with an existing mortgage?

(I will include an ancestry chart in the appendix).

. - Bruce Norris had a good chart at the SF bay summit this year but I can't find it. 

I’m wondering if a more precise rifle approach would be better.

I am bias since I live in Baltimore and I also would like to provide you with a chart that one of Bigger Pocket colleagues providedhttps://bp-v-newproduction.s3.amazonaws.com/upload...

You can model the precise results using The Mortgage Professor's tool here:Refinancing One FRM Into Another FRMThe decision depends a lot on your time horizon, but you will likely benefit in about a year.

But I think you'll find many investors who have done precisely this without any problems.

An interesting analysis showing by city, the last year you could purchase a home at its current median price.http://www.realestateconsulting.com/content/USBMI-201108According to these charts, the last time Los Angeles housing was at its current median price was 2003.

If you’re diligent and precise you can make that $400K go a very long way.

Good reminder of why its important to have copies of documents, if you don't clearly see a title/subject line, need to relay precise information to people here so they understand if its a first notice or judicial notice, etc.Glad you got it worked out though....most aren't this easy.