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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] RE: Help with any of these questions..TY Posted by Johnny on February 05, 2004 at 11:12 PM In NYS, if a home is auctioned off for say 100,000 dollars and there is 30,000 left on the mortgage, does the owner of the property get the rest of the money? 2) if so, how much legal fees are usually involved with the auction/lawyers for the bank...3)how long after it is sold, does the owner have to move/get out after the auction date..4) if new owners knock on door, must u leave right then and there, or could u somehow prolong the stay until owner finds a new place? 5) If new owner put down the required 10% down on the 100,000 dollars, what if they dont get a mortgage for the remaining 90,000 in the required 30 days? does that money go to the old owners mortgage and does the house get put up for auction again? How long does it take to get the excess money from the bank if you do get the remaining money left over from auction? Thanks to anyone that can answer some/all of theses question..friend of mine is going through this situation and is terribly nervous because of the uncertainty of what lies ahead.Thanks again Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : In NYS, if a home is auctioned off for say 100,000 dollars and there is 30,000 left on the mortgage, does the owner of the property get the rest of the money? 2) if so, how much legal fees are usually involved with the auction/lawyers for the bank...3)how long after it is sold, does the owner have to move/get out after the auction date..4) if new owners knock on door, must u leave right then and there, or could u somehow prolong the stay until owner finds a new place? 5) If new owner put down the required 10% down on the 100,000 dollars, what if they dont get a mortgage for the remaining 90,000 in the required 30 days? does that money go to the old owners mortgage and does the house get put up for auction again? How long does it take to get the excess money from the bank if you do get the remaining money left over from auction? Thanks to anyone that can answer some/all of theses question..friend of mine is going through this situation and is terribly nervous because of the uncertainty of what lies ahead.Thanks again 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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