How much could be there?
The process of foreclosure differs by locality. But typically, the home ends up being auctioned. Usually, the lending firm foreclosing on the homeowner bids what is owed in defaulted mortgage debt and takes back the property.
In most states, if another bidder offers more than what’s needed to pay off the defaulted debt, the resulting surplus goes to the former owner.
Are you due funds?
So, how can you find out if you’re owed money after a foreclosure ?
I’ll make it easy for you. (Click the link below)
You can find the report at the National Consumer Law Center website.
All you will need to do is supply your case number and ask if any balance is left.
I’d like to note that certain states deal with proceedings in different fashions,so please seek legal advice to find out what best suits your needs in your state.
Most states give surplus cash from auction to former owner.
Former owners maybe unaware of money owed to them.
Find your report at the National Consumer Law Centers Website.