Dan asked: 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?
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Can I sell a house without paying off mortgage?Can you get a mortgage after ALMOST foreclosing on your home?Mortgage??????How can I find a seller to buy defaulted mortgages from?Mortgage?Can I place the remaining mortgage payment on my existing home towards a mortgage on a new home?How does a mortgage short sell work, and how will it effect my credit?
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on Sunday, August 23rd, 2009 at 4:25 am and is filed under mortgages.
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August 24th, 2009 at 4:56 am
You get the balance.
August 26th, 2009 at 10:27 pm
In the UK you would get the balance minus all the ludicrous fees that the bank add on.
August 27th, 2009 at 9:27 am
Yes. After all expenses, late payments, late payment fees, etc. you get what is left over.
August 29th, 2009 at 1:53 am
The go to strip club and party.
August 29th, 2009 at 10:39 pm
The fees were paid found some foreclosures here that were paid found some foreclosures here that much equity.
The house go to foreclosure if you would probably get back any balance after all the fees were steals.