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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Distribution of foreclosure sale overbid.. Posted by Ward-CA- on June 10, 2003 at 8:17 PM In Reply to: Equity Surplus posted by cecil casey on June 10, 2003 at 11:29 AM : I understand that the owner of record at the time of the public sale shall receive all surplus equity after all other liens and junior liens against the property are paid for. What effect would a california state lien against the above owner of record have on the equity surplus? =•=•=•=•=•=•=•=•=•=•= Cecil, Foreclosure overbids are always paid out to those liens and interests that are junior to the foreclosing lien. The payouts are made in a descending priority from one junior lien down to the next until it’s exhausted or finishes up with the most junior equity holder—the ex-owner. If the CA state lien is senior to the foreclosing lien it wouldn’t receive any of the overbid payout. However, if it was junior to the foreclosing lien it would receive whatever was left of the overbid after any intervening liens above it were paid off completely. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I understand that the owner of record at the time of the public sale shall receive all surplus equity after all other liens and junior liens against the property are paid for. What effect would a california state lien against the above owner of record have on the equity surplus? : =•=•=•=•=•=•=•=•=•=•= : Cecil, : Foreclosure overbids are always paid out to those liens and interests that are junior to the foreclosing lien. : The payouts are made in a descending priority from one junior lien down to the next until it’s exhausted or finishes up with the most junior equity holder—the ex-owner. : If the CA state lien is senior to the foreclosing lien it wouldn’t receive any of the overbid payout. However, if it was junior to the foreclosing lien it would receive whatever was left of the overbid after any intervening liens above it were paid off completely. : Hope this helps. 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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