0
No, if there is any surplus of funds from a public foreclosure auction, it goes to the homeowners.
This is why banks keep raising fees, interests, charges, costs, and any other monetary items they can impose on an account.
The bank wants to be able to collect as much money as possible from the sheriff sale of the home.
Not surprisingly, a surplus that goes to the homeowners is very rare. Most homes do not sell for enough to pay off even the first mortgage, let alone any other liens or create a surplus.
However, in the rare cases where there is a surplus, the homeowners often have to request it from the court or county clerk. They will not just be sent a check.
The government would rather that the homeowners disappear and leave the surplus for the government itself to claim, instead of letting the borrowers know they are entitled to some funds as a result of the sale.
What else can I help you with?
Would a surplus money action in a foreclosure be filed by the junior mortgage holder?
That is true
Is money received as surplus from a foreclosure taxable?
Not only money received but also debts forgiven from credit cards, car loans, etc. Any and all debts forgiven or wiped away through bankruptcy courts are taxable as income.
What is the difference between reserves and surplus?
A reserve is a planned amount, a surplus is unplanned.
Definition of consumer surplus?
Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare
Is deficit the opposite of surplus?
yes
What are my rights as a secondary heir in my father's estate if his real estate goes into foreclosure?
The banks claim is superior to yours because your father conveyed the property to the bank when he granted the mortgage. You would be entitled to any surplus after the bank deducts its debt, costs and expenses of foreclosure.
Would a surplus money action in a foreclosure be filed by the junior mortgage holder?
That is true
How do you locate real estate overages?
To locate real estate overages, start by checking public records at your local county clerk or assessor's office, where surplus funds from foreclosure sales are often documented. You can also search online databases or websites that specialize in overage listings. Networking with real estate professionals, such as agents and attorneys, can provide leads on potential overages. Additionally, attending foreclosure auctions may help you identify properties that could yield surplus funds.
When is the Maine State Surplus Auctions?
Maine State Surplus Auctions typically occur several times a year, with specific dates announced in advance by the Maine Bureau of General Services. These auctions allow the public to bid on surplus state property, including vehicles, equipment, and other items. To find the exact dates and details for upcoming auctions, it's best to check the official Maine State website or the Bureau of General Services' auction page.
How can one find surplus items effectively?
To find surplus items effectively, one can search online marketplaces, attend auctions, visit thrift stores, and network with businesses that may have excess inventory. Additionally, signing up for surplus item newsletters and joining surplus item groups on social media can also help in finding surplus items efficiently.
Can foreclosure of investment properties result in the selling of your own home?
In theory yes, but in practice I doubt it will happen. The bank will start the foreclosure procedure with your investment properties, ultimately these properties will be sold and the proceedings used to settle the mortgage loan. In most situations the proceedings will be enough to pay off the mortgage and you are entitled to the surplus. However if the proceedings are not enough to pay off the mortgage you can and will be forced to pay it off with other funds and eventually bankruptcy can follow and your home will be taken. And please do not forget that even a foreclosure on investment properties will have a negative impact on your credit score.
How do you find auctions surplus sources for lab glassware?
You can find auctions through internet searches using "lab glassware" as your keyword. This will take you to many sites like LabX.com The many Auction Houses use this website to advertise there up coming auctions! Use this as a start!
Where can one bid on auctions other than eBay?
Recently, with the rise in popularity of "penny auctions", sites such as Quibids and Bidcactus have been getting their fair share of internet traffic. As for general auction sites, one can find auctions to bid on at sites such as Amazon, Sam's Club, and Public Surplus.
Why do bees collect pollen?
Bees collect nectar for food. Because raw nectar would not store for very long without fermenting, bee convert the surplus of nectar they collect into honey to use as food when nectar is not available. It is this surplus honey that we collect. Beekeepers then replace the honey with sugar syrup which, for the bees, is just as good.
Where do they run legitimate government auctions in Alabama?
Go to this site to learn about auctions in Alabama: http://www.adeca.alabama.gov/Surplus%20Property/default.aspx . Be aware that there are many scam companies that claim to have auction listings. Only deal with .gov sites!
Asplundh tree expert co surplus equipment WHERE and WHO to buy?
You can buy surplus equipment from Asplundh Tree Expert Co through online auctions on websites like eBay or dedicated surplus equipment auction sites. For specific inquiries, you can contact Asplundh directly through their official website or by calling their main office.
Where can I sell surplus inventory?
I have been selling my surplus inventory at Liquidation.com for years and love it. It is really easy. I found an article that talks about the potential hazards associated with online auctions, namely brand and channel control. You can find out more here: http://probleminventories.com
