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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Question about surplus funds after Trustee Sale Posted by Jim V on May 22, 2002 at 4:41 PM In Reply to: Question about surplus funds after Trustee Sale posted by Freedom39 on May 20, 2002 at 3:50 PM : I have a question about what happens to a property that went into foreclosure with a significant amount of owner equity. In this case, the trustee's sale yielded $450,000 but the unpaid debt amounted to less than $200,000. After settlement of all claims and deducting trustee expenses, does the original owner have a right to this surplus money? : sorry for what is probably a very basic question, but I wasn't able to puzzle it out by reading previous posts. Assuming your reference of "settlement of all claims" includes the payment of junior lien interests, yes, the overage will eventually end up being paid to the previous owner. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I have a question about what happens to a property that went into foreclosure with a significant amount of owner equity. In this case, the trustee's sale yielded $450,000 but the unpaid debt amounted to less than $200,000. After settlement of all claims and deducting trustee expenses, does the original owner have a right to this surplus money? : : sorry for what is probably a very basic question, but I wasn't able to puzzle it out by reading previous posts. : : Assuming your reference of "settlement of all claims" includes the payment of junior lien interests, yes, the overage will eventually end up being paid to the previous owner. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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