One of Those Things Bankers and Creditors Hope You Never Find Out
Were you aware that if a home is sold at a foreclosure public auction for more than the mortgage or deed of trust debt owed by the borrower then the borrower/homeowner is due that extra funds. At Times this could add up to tens of thousands of dollars. Many times the bargain hunter at the public auction will bid and pay more than the debt owed on a property. If the purchaser pays more than the balance of the debt owed by the homeowner foreclosed on the excess is due to the property owner if they claim it and only if they claim it, otherwise it is lost to them
