Posted by Joe on September 29, 2004 at 24:13:34:
If you are speaking of lines 504 (Payoff of first mortgage loan) and 505 (Payoff of second mortgage loan), these are the amounts that will be paid by the buyer, as a payoff of that loan.
If the 1st mortgage loan balance is $100,000, but the buyer is shorting the loan, and is going to pay only $75,000, then the $75,000 is what goes on this line.