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Who do you contact to get the excess money after foreclosure auction?
Wiki User
∙ 9y ago
You should contact the mortgage holder. They would be the ones that foreclosed and will have the remainder.
Wiki User
∙ 9y ago
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Who gets money in excess of money owed in foreclosure auction?
In the rare case that there is money left over after payoff of the note, penalties, taxes, and the fees involved in the foreclosure and auction, the second mortgage and other liens can then be paid off, and if there is still money left over, the home owner will receive the excess equity because the banks and lawyers have already been paid what they are owed.
What's the difference between a foreclosure auction and a regular auction?
A foreclosure auction is a forced auction. The person who used to own the property being auctioned owed either the bank or the government money. For not paying the money back, their property is sold at auction to satisfy their debt. A regular auction could be anything and isn't necessarily to pay off debt, but usually to make a profit.
Can the bank come after me for money after a foreclosure?
Yes. If, the amount they auction the property for is less than what you owe they will come after you for the difference.
What happens if the home fails to sell at the foreclosure auction?
by definition, a foreclosed property has to have someone file the foreclosure usually due to them being owed money and the property is security on the property. This is not cheap or free. Hence, there is always a "buyer" out there which is often the lender.
Can lanlord allowed to give 3 days notice to quit to her tenant even the house is foreclosure auction?
no must be a week and the tennant is entitled to taking the bond money for security.
What happens to your down payment in foreclosure?
The money is gone after foreclosure.
Can I really buy cheap houses at a foreclosure auction?
Foreclosure auctions are some of the best places to buy cheap houses. Normally the bank is just trying to get their money back and is willing to sell the house pennies on the dollar so you can end up getting a bargain
Has anyone heard of Oceanview Investment?
You should check out Mortgage Grapevine and rip off report, plus you should check with your BBB. I would not send them a dime! --- Contact HUD for approved foreclosure counseling agencies. Ocean View will try to talk you into giving them money [big $$$ usually at or in excess of $900] to provide [or not] for a service that you can get for FREE. When talking to HUD, they said that if you are talking to any ´foreclosure avoidance specialist´ that asks for money, "Run!" [their EXACT advice - no joke!] Don´t wait - reach out - go to: http://www.hud.gov/foreclosure/index.cfm http://www.hopenow.com/
In a foreclosure if a property does not sell at the auction and the auction date has passed who is the official owner of the property and does the foreclosee still have some tie to that property?
The mortgage company will buy the property if no one else does, but if the auction is cancelled so even a representative of the mortgage holder does not show up for the auction, you may still be the owner. Check the registry of deeds for your area for a foreclosure deed, usually filed within 30 days of the auction. If you remain on the property, you may be asked to pay the same amount "in lieu of rent" that you were paying on the mortgage and stay on the property until another buyer is found. You may be offered money to help find a new place.
If you have a lien on the house going into foreclosure will you get your money?
No
Can a bank take your money from bank after foreclosure?
no
Who initiates a foreclosure?
The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.The bank that loaned the money initiates the foreclosure when the debtor fails to make the payments. Generally, the bank is represented by a law firm that specializes in foreclosure and the law firm begins the procedure.
