Home Buying in Concord>Question Details

rumblebee39, Renter in Concord, CA

the bank foreclosed on me and then sold it for more than i owed, am i intitled to the differance

Asked by rumblebee39, Concord, CA Mon Jan 28, 2013

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If the property is sold at a foreclosure auction and the bank receives more than you owe on the property, you may be entitled to receive any excess money above the loan payoff and foreclosure fees.
If the bank takes the property back at a foreclosure auction and subsequently sells the property the bank would keep all of the proceeds.
If the bank has not yet foreclosed and you have equity in the home, you can sell the property before the foreclosure auction and keep your equity.
0 votes Thank Flag Link Mon Jan 28, 2013
Absolutely not!

You gave up your rights ---- and most especially your obligations --- when you stopped making payments that led to the bank foreclosing on the property
0 votes Thank Flag Link Mon Jan 28, 2013
No. Once the property is bank owned, it's their property and it doesn't make a difference how much they sell it for on the open market.
0 votes Thank Flag Link Mon Jan 28, 2013
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