Asked in Foreclosure for California

Q: Right of previous foreclosed home owner to claim sale money above loan value that was due.

I went to foreclosure in California and my lender used his Power of Sale clause to auction off the house. The sell price went higher than the amount I did owe on the house and I am wondering if I have a right to the money above and beyond what was due on the house as previous owner before foreclosure.

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1 Lawyer Answer
Ali Shahrestani, Esq.
Ali Shahrestani, Esq.
PREMIUM
Answered
  • San Francisco, CA
  • Licensed in California

A: Once the mortgage is foreclosed and the creditor take ownership of the property, that property belongs to them, and so does the money they make in selling it. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.

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