How do foreclosure sales work?
Jul 14, 2009 in
Financial and Loan Tips
Dannai
I was wondering how foreclosure through a bank works? Such as, does a person default on thier loan and someone else takes over the remaining debt?
so lets say theres 450,000 left on a 600,000 loan, I would be able to owe somewhere around 450,000 and the previous owner loses the 150,000 he invested?
I was wondering how foreclosure through a bank works? Such as, does a person default on thier loan and someone else takes over the remaining debt?
so lets say theres 450,000 left on a 600,000 loan, I would be able to owe somewhere around 450,000 and the previous owner loses the 150,000 he invested?


