I have several properties that I am looking at and I need a little help on understanding the mortgage or what is owed part of the property valuation. I will use:
3015 107TH AVE SE, BELLEVUE, WA 98004-7424 because that is the first one I am looking at. Under MTG record it shows $45,000 in a Revolving credit line. Then below it is the prior transfer. So is what is owed on the house only the $45,000 or is the $45,000 plus the $87,893. I want to make sure as I am moving forward with this one as well as my others that I know what they owe before I make the first contact with them.
Please advise me on this one and give me a quick idea as how to look at the MTG part on most of these listings. Thanks.
Actually looks like the purchase was for 87k, then they put financing of 360k with Westwood Mtg. Subsequently, in 2005 a 45k Equity Line with Household Fin was added.
Great question, but now you can see into the deal more clearly.
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