Re: question about excess funds at auction sale
Posted by Jim V on February 17, 2007 at 11:59:08:
In Reply to: question about excess funds at auction sale
Posted by laraquinto on February 17, 2007 at 08:16:14:
laraquinto,
Excess proceeds don't flow to senior positions. So:
The first remains as it was, needing to be paid.
The second is paid from the bid amount.
Surplus from the bid goes to any lienholders junior to the second, if there are none, then the surplus goes to the previous homeowner.
Follow Ups:
- Re: excess funds at auction sale to previous homeowner - John Curtis 18:01:33 08/16/07
(3)
- Re: excess funds at auction sale to previous homeowner - Jim V 20:07:19 08/16/07
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- Re: excess funds at auction sale to previous homeowner - John 06:37:19 08/17/07
(1)
- Re: excess funds at auction sale to previous homeowner - Jim V 12:07:11 08/17/07
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- Re: question about excess funds at auction sale - steele in minnesota 16:09:22 02/17/07
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