an elderly friends son died and she had to leave the house to foreclosure. It sold at auction for more than she owed. Is she entitled to difference?
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an elderly friends son died and she had to leave the house to foreclosure. It sold at auction for more than she owed. Is she entitled to difference?
Asked on May 16, 2009 under Real Estate Law, Ohio
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
She is entitled to the difference after all of the following are paid:
Tax liens
Mortgage debt (This includes principal, interest, service charges and advances for taxes, assessments, and property insurance premiums, plus expenditures for the necessary protection, preservation, and repair of the security property as authorized under the mortgage agreement and interest thereon if provided for in the mortgage agreement),
Late charges or fees,
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