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.)
Answered on 6/03/09, 11:26 am