Posted on: 14th Dec, 2009 11:23 pm
My house sold at aution for 100000 over the owing and curement. Am I entitled to that money? this was in washington state.
hi amlenknapp,
if your house was sold at a price which is higher than what is owed on it, you are entitled to the excess money. however, all the liens like the home loan, second mortgage, etc. need to be paid first. the costs of the auction will also have to be paid off. after paying off the secured debts and the costs of the auction, you can take the rest of the sale proceed.
if your house was sold at a price which is higher than what is owed on it, you are entitled to the excess money. however, all the liens like the home loan, second mortgage, etc. need to be paid first. the costs of the auction will also have to be paid off. after paying off the secured debts and the costs of the auction, you can take the rest of the sale proceed.
Of-Course you will entitled for this money, if you have paid off all liens & taxes related to this property
i have to disagree with the above commentary. if your home goes to auction, due to a default on a mortgage, you've relinquished your rights entirely to any proceeds. i suppose an aggrieved homeowner can sue for the right to the excess, but i firmly believe that's found money on the part of the lender.
