OfflineHi all,
I'm new to the program but it looks like a great site with great people here.
I was searching the database in my area, through foreclosurealert and came across this info on a pre-foreclosure. I'm confused to how to read this info. Why is the amount of default only 16.25?
Should I be looking for low or high default amounts- or does it matter?
Thanks for helping 
MH
NOTICE OF TRUSTEE'S SALE
Amount Of Default
$172,652.60
Unpaid Balance
$16.25
Original Loan Amount
$162,500.00
Transfer Value
$130,000.00
__________________
The information is entered in manually and sometimes people make mistakes when they are entering in the information. I would confirm from the courthouse to see if this is the right information.
I saw this repeatedly on the foreclosure alert, and it looks like a lot of information got entered in with the decimal in the wrong place. If you'll notice, all of these are 1/100 of what they should be. The unpaid balance is almost certainly the entire original loan balance (often plus some fees, which would be the "amount of default" figure, I think!)
HTH!
Tracey
As soon as the first person responded, I noticed that it had to be a typo
Also I later learned that sometimes it's low because it's showing the amount the 2nd mortgage loan is in default and not showing the 1st. It'd be nice to learn how to read and decipher the info we have so we can use it better.
Anyways, Rock on.
MH