What goes on so you’re able to Continuously Proceeds from a foreclosures Profit
For folks who reduce your property to a property foreclosure therefore the domestic sells for more your due, you may get to keep that cash. See how to allege excess funds from a property foreclosure.
For many who standard in your mortgage repayments, the financial institution (or the then mortgage holder) might foreclose . In most claims, a foreclosure concludes with an auction the spot where the house is sold to another owner.
When a foreclosure purchases results in excess continues-money past certain requirements to pay off every liens with the property-this excess money is part of your (the brand new citizen), not the lender.