Posted on: 28th Apr, 2010 08:42 pm
I'm in the process of selling my house, for which I owe more than my asking price. However, this is not a short sale as I intend to make up the difference. A real estate investor has approached me saying they are interested in my property, but they want to know how much I owe on the mortgage. They claim that they need this information in order to determine an offer price. They also claim that the mortgage company will disclose this information when their buyer's lender requests it. How can it hurt me to give them that number?
Hi thecutarans!
Welcome to forums!
I don't think it will hurt you if you disclose the amount that you owe on your mortgage to the real estate investor. However, if you are not comfortable in disclosing the amount, then you can ask the investor to have a word with your lender and check out the amount.
Sussane
Welcome to forums!
I don't think it will hurt you if you disclose the amount that you owe on your mortgage to the real estate investor. However, if you are not comfortable in disclosing the amount, then you can ask the investor to have a word with your lender and check out the amount.
Sussane
If you're making up the difference, it shouldn't matter to them what you owe. It's matters what the property is worth.
Thank you for your inputs. It was very helpful