This is one of the key reasons why Prospektr is so popular among investors. We provide detailed mortgage information on any property that has an open mortgage lien.
First of all the mortgage information on any property in the country is a public record available from the local county. You can certainly obtain that from the your local county office for a small fee.
Prospektr uses the mortgage information to create more actionable insights that you can search on. For example, you can search for properties that have 2 mortgages or those that have a mortgage balance of X dollars and son on. This puts the power of the mortgage data at your fingertips to find properties that fit your target investment criteria.
Here is snapshot of the mortgage information available to you on any property.
We compute the Estimated Loan Balance and Estimated LTV to give you a quick indicator on the homeowner’s inclination to negotiate. Typically, homeowners with a larger equity in the property may be open to negotiating more because they get to keep a large portion of the pie anyway at the time of the sale.