My home was foreclosed on last year. The total outstanding debt at the time of the foreclosure was $300K (including principal, interest, fees, taxes, etc).
The bank sold my property to itself on the court room steps the day of the foreclosure for $100K. It later confirmed the sale with a very low appraisal which the judge accepted in spite of my attorney providing a much higher appraisal .
Three months later, the bank subsequently sold the property for $275K.
I recently received a letter from a debt collector representing the bank. Per the letter, the bank (via the collection agency) is attempting collect $200K. The letter sited the foreclosed loan balance of $300K and the confirmed sale amount of $100K.
In reality, the bank sold the foreclosed property for $275K. Can they really sue for 200K?