Recovery Of Surplus Funds For You Following Foreclosure Of Your Property

Advocates2023 Dec, 2020Legal

In a foreclosure situation, your property will get auctioned off to the highest bidder. Many times the house or apartment gets sold for more money than the amount of the loan. If so, you as the former owner of the property are entitled to the net “surplus funds” according to California law. You are entitled to all the net cash achieved in the sale OVER the amount of the loan that has been foreclosed upon.