When foreclosed homes are auctioned off, the winning bid often exceeds the loan amount and court fees. What many don’t realize is that the leftover balance, or surplus, legally belongs to the former homeowner or their heirs. Legal professionals are urging the public to become more informed about this overlooked benefit of foreclosure law.
Data Shows Foreclosed Homes Often Sell for More Than Debt Owed — But Who Gets the Extra Money?
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