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Forecloses And Excess Value
Question: What happens if a foreclosed home sells for more than the mortgage balance?
Answer: If there is a surplus from the sale it should go back to the owner -- but don't forget that the lender will want not only the remaining loan balance but also the fees and costs associated with the foreclosure. Please see an attorney immediately to determine your rights and leverage.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
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