What may happen after a foreclosure sale
Power-of-sale or deed-of-trust foreclosure is commonly available. Judicial foreclosure may also be possible in some matters. A sale may sometimes leave money after the mortgage balance, allowed sale costs, and other valid claims are addressed. The records must be reviewed before anyone can say whether funds remain.
Who may hold the funds
Depending on the foreclosure and later proceedings, the possible holder may be a trustee, substitute trustee, foreclosure counsel, or a court if funds are deposited or interpleaded.
What to gather
- Property address and county
- Approximate foreclosure sale date
- Your relationship to the former owner
- Any basic sale or case reference you already have