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Re: after foreclosure

Posted by steele in minnesota on March 28, 2007 at 12:58:18:

In Reply to: after foreclosure posted by Louise on March 27, 2007 at 17:59:03:

If there is any money left over after paying all debt against the house (and I mean all), it is supposed to go to the former owner.

Remember that it is not just what you owed on the note but also all back payments, late fees and costs of the foreclosure. And this can really add up. I regularly see the debt on a house exceed the original loan if it is only a couple of years old.

I would contact the lender and get an accounting of the funds and how proceeds were dispersed.

Steele

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