Legal Question in Real Estate Law in Virginia

foreclosed home

How long does it take to receive money from a foreclosed home?

Lost my home in Feb and was told I would receive money back.

It has been over 90 days


Asked on 6/01/09, 9:30 pm

1 Answer from Attorneys

Michael Hendrickson Law Office Michael E. Hendrickson

Re: foreclosed home

You could certainly contact the individual who you claim told you that you "would receive money back" from the foreclosure sale. However, you should bear in mind that in these days of depressed housing market prices, it is probably fairly unusual

for there to be any such surplus available to the former owner after his or her house has been auctioned. (More likely to occur is a deficiency judgment against such owner.)

Read more
Answered on 6/03/09, 11:26 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Virginia