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Alex Esquire
Alex Esquire, Attorney at Law
Category: Real Estate Law
Satisfied Customers: 16396
Experience:  Experienced Licensed Attorney / Real Estate Law Mentor
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My brother died at age 70, he was never married, house is

Customer Question

my brother died at age 70, he was never married, house is worth $80,000.00. He has a first mortgage of $50,000.00, a lien against his home for past repairs for $34,000.00 and a lien from a credit card company for $5,500.00. Can the bank, the first mortgage
holder sell the property to recover its $50,000.00 and ignore the other lien holders?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 1 year ago.

Hello. My name is***** will be happy to answer your question.

I am sorry to hear about this unfortunate situation.

The bank would generally foreclose and sell the property and will apply the proceeds of the sale to any amount of money owed to the bank and the surplus amount (if any) would be paid to the other lien holders according to the lien order.

I wish you the best of luck!

Expert:  Alex Esquire replied 1 year ago.

Please let me know if you have any related follow up questions?

If not, please positively rate and accept my answer, so I can be compensated for my work.

Thank you.

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