Hi,
If the property sells to an outside third party bidder, funds owed to the lender/beneficiary will paid .If The sale nets more money than the amount owed to the first mortgagee. This excess is called a "surplus." Surplus remaining after a foreclosure sale should be paid to the junior lien holders in accordance with the priority of their liens on the property and that only after the liens have been satisfied may any surplus be disbursed to the owner of the equity of redemption.
To claim any foreclosure auction overbid in NC the claimant must file a notarized affidavit requesting the overbid from the foreclosing trustee. You will need to call the foreclosing trustee and ask them for their affidavit form to fill out.
Walter
Yes the law is the same for SC as for NC. Any funds netted over what is owed can be claimed by yourself.
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