May 20, 2014
There is very little privacy in a home purchase today. Any loan on a property is public information. A property can be purchased under a corporate name or LLC, which could keep the owner's name private. However, all liens and mortgage documents are public record.
The public can easily find the name of your lender and the original loan amount on a property. Your interest rate, monthly payments and how you have handled your payments is confidential. Open records do not show the current balance on a mortgage. But it doesn't take much skill to estimate a homeowner's mortgage situation.
I don't like that this kind of financial information is public. Unfortunately, the only option to avoid this loss of privacy is to pay cash for a property. [where: 75230]