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Foreclosure Sale |
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On a foreclosure, when the seller is the lender....is the seller (lender) allowed to profit from the sale? |
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If the foreclosure auction brings enough to pay off mortgage, liens, back taxes and legal expenses of the foreclosure, any proceeds left belong to the original owner.
But if you're asking whether the lender that's taken title to the property can then turn around and sell it at a profit, yes, they can. |
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Edith
Originally published on December 6, 2007 |
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