Q: Can the bank require more than the amount awarded in a foreclosure final judgement to pay off the property?
Our home was recently foreclosed in Orange County, Florida. The court has postponed the auction because we are about to close on the sale of the property to settle the debt. The bank submitted a payoff statement to the title company that is $20k higher than the final judgement award. Isn't the final judgement the binding amount?
A: Yes, the judgment amount (including interest accruing from the judgment date) should be the payoff. Check with the law firm that did the foreclosure for an explanation of the discrepancy.
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