I am working through my due diligence on a recent mailer and noticed a button called “Mortgage Information” in ParcelFact on two of the properties I am interested in purchasing. An example is below:
1ST Mortgage Amount: 206400
1ST Mortgage Loan Type: PP
1ST Mortgage Lender Name: BARNETT BURT ET AL
From what I gather, this is a personal property mortgage in the amount of $206,400. I expect that the lender has a lien on the property, which was used as collateral for a loan of some kind. Has anyone else seen this, and do you know where the information comes from? How reliable is this information, and other than asking the seller about it (which I have), how else could I verify the presence of a lien on the property?
the information comes from the county. depending on the county, you can go online to see the documents. titlepro247 should have this information as well. if the deal is sweet enough and you want to be super safe, you can order a lien report on the property from a title company.
FYI, I have a parcel that ParcelFact lists a mortgage as well, but it doesn’t show a lender name. I’ve looked through the County Recorder info, but don’t see anything for a lien. The owner states there was one when they bought it, but it’s paid off, and title is clear. I’m guessing that’s what is showing in ParcelFact. I’m sure the title company lien report will confirm.