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How To Find A Mortgage On A Property

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As mortgage rates drop, many homeowners are looking for ways to refinance their existing mortgages. And with housing prices skyrocketing as fast as inventory plummets, some will opt to stay put rather than move. This is promising news for lenders in search of new business. But before you close that new refinancing deal, you need to do some research on the property’s existing mortgage. This isn’t exactly secret knowledge you’re looking for, but public information. And while you may encounter some bureaucratic hurdles along the way, there is one method that cuts through the red tape. Learning how to find a mortgage on a property doesn’t have to be difficult.

How to Find a Mortgage on a Property: County Records

All the mortgage information you need will be available at the clerk of court’s office in the relevant county. Although it’s a matter of public record, it might not be fully available online. Plus, access sometimes requires a fee depending on the location.
Here are the basic steps for how to find a mortgage on a property using court records:

Find The Property Identification Number

By now, you should have the full address of the property and the owner’s name at a minimum. If you don’t already have these, you can find them through the records available at the county’s property appraiser or tax assessor’s office. In most cases, they’re easy to find.
Use this information to search the county clerk of court’s online records. Each county will have its own system for organizing and searching for court records, but you will usually find a book and page number for each mortgage deed.

Visit The Clerk Of Court’s Office

Odds are, you won’t find the full records online. With your book and page number in hand, it’s time to visit the courthouse. Find the records room, and keep in mind this room may keep different hours from the rest of the courthouse. So be sure to look up the operating hours ahead of time to avoid wasting a trip.

Fill Out a Form Requesting the Records

You will need to put your records request in writing using the provided forms. This will give you access to the mortgage documents you need. Keep in mind that some counties charge fees for viewing or making copies. These fees vary by county, so check with your local clerk of court for details.
The records will show the most recent mortgage holder and the starting value of the loan. They will not show the current loan balance or payment history, but you’ll be able to see if the homeowner has refinanced or paid off the mortgage completely.

How to Find a Mortgage on a Property: Third-Party Subscriptions

A wide variety of third-party websites provide mortgage information. This has the great upside of saving you the time and effort needed to find these court records yourself. But like most things in life, these services aren’t free.
Some sites offer a free tier with the limited information that’s just enough to entice you to pay for the full report. Plus, subscription tiers are often available alongside one-time access purchase options. Some of these services specialize in foreclosed properties. These can be promising avenues for refinancing prospecting.

How to Find a Mortgage on a Property: Title Company

If all else fails, you can enlist the services of a title company. These companies work to research and verify a property’s title history and facilitate the closing process. They can also issue title insurance for the buyer or lender.
Prices will vary widely by location and quality. So be sure to do your research and shop around before going down this route.

How to Find a Mortgage on a Property: Using ProspectNow

ProspectNow’s platform includes a comprehensive property search database with millions of commercial and residential properties from across the country. You will have easy access to property information, owner contact information, and mortgage information in one place. But ProspectNow has another trick up its sleeve that other services do not.
The likely seller algorithm uses machine learning to gather and interpret data on local sales demographics. Then it can reliably predict which properties in your area are likely to sell or refinance in the next twelve months. These unique analytics provide a competitive edge to your refinance prospecting. When you find prospects before your competition does, you can strike first, and your chances of closing a new deal just got that much higher.
To get an idea of how accurate the likely seller algorithm is, take a look at ProspectNow’s ROI calculator. It will tell you how many likely sellers it identifies in your area right now. You’ll also find a list of properties that the algorithm correctly predicted would sell. Finally, take a look at the expected turnover and commissions from using ProspectNow. This will show you just how much more money you could be making with the ProspectNow platform.
Once you have a prospect in sight, making first contact is simple. Using included templates, you can call, email, or send a postcard with one click. No more trips to the post office or wondering just how to word that email. And don’t sweat the cold calling script. You can also set up a direct ad campaign to reach your prospects online. Plant the seed in them to refinance soon, and they will have the chance to come to you instead.
Are you ready to close more refinancing deals? ProspectNow has helped real estate agents, brokers, investors, and more since 2008. Using unique data analytics in an intuitive, easy-to-navigate platform, users make more money with more reliable data. ProspectNow also works well for mortgage companies, trades, and anyone else who relies on consistent property data to do business.
Start your three-day free trial today and see how ProspectNow can help your business

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