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AttyHeather, Lawyer
Category: Real Estate Law
Satisfied Customers: 677
Experience:  Attorney with 15 years experience
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In 2009 during the mortgage crisis, we lost our home. We had

Customer Question

In 2009 during the mortgage crisis, we lost our home. We had arranged a moratorium with the mortgage company and the did not honor it. Our mortgage was for 139,000.00 and was eventually sold for 258,000.00 and there was no second mortgage on property. Where does the equity go to?
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  AttyHeather replied 10 months ago.

Hi! I'm Heather. I've been a practicing attorney for the last 15 years, and I'd be happy to assist you for informational and educational purposes.

Expert:  AttyHeather replied 10 months ago.

Unless your contract stated otherwise, the excess should have been paid to you. Keep in mind, this is after interest, expenses, attorney fees, etc, which usually add up to much more than you would expect.

Does that make sense?

Expert:  AttyHeather replied 10 months ago.

Hi, I see you were able to check in and review the answer. Can you please let me know if I answered your question and if so provide a positive rating so that I am given credit for helping you?