What happens if you default on a mortgage and they sell your house for more than you owe?
What happens if you default on a mortgage and they sell your house for more than you owe?
Say the band sells your house for $300K, and you only have $50K left on the mortgage. Do you get your $250K?
Quick Property Sale
Related posts:
- Can I sell a house without paying off mortgage? I am planning to sell my extra house, for which I am paying a mortgage (15 more years to go). The mortgage rate is really low. Can I sell the...
- Would it be wise to buy a house, rent it out, and then sell it after I pay off the mortgage? Currently, I am a college student and looking to buy a house so I would be able to rent it out and then later on sell it for profit. The...
- How can I buy a house when I am refused for a pre approved mortgage? I only have enough money for a down payment but I still have to borrow a considerable amount. But according to the banks I dont make enough to buy a...
- can my house be repossessed if i cant pay the mortgage on another property? i have a mortgage on a house in which i live. i pay the payments on time and have no problems. however i have a second flat which i rent...
- Can I sell my house with a joint mortgage with my ex partner on it? I am going through a divorce and my ex lives in greece and hasnt paid anything towards the mortgage for nearly two years. I am sick of it and want...
June 22nd, 2010 at 10:03 pm
You get the balance.
June 25th, 2010 at 5:53 am
In the UK you would get the balance minus all the ludicrous fees that the bank add on.
June 27th, 2010 at 7:04 pm
Yes. After all expenses, late payments, late payment fees, etc. you get what is left over.
June 29th, 2010 at 8:24 am
the go to a strip club and party…
June 30th, 2010 at 10:52 pm
yeah why would you let the house go to foreclosure if you had that much equity??
Well you would probably get back any balance after all the fees were paid.
I found some foreclosures here that were steals