Legal Question in Real Estate Law in Massachusetts

Foreclosure

If a house is forclosed and then sold by the bank for more than the mortage owned, who gets the difference?


Asked on 9/23/03, 9:09 am

1 Answer from Attorneys
David Baker Law Office of David Baker

Re: Foreclosure

If there are no other mortgages or liens, the mortgagor (usually the homeowner) get it. There is a Massachusetts statute to that effect. Case law says that mortgages or liens coming AFTER the mortgage share in any surplus IF they were recorded at the Registry before the foreclosure.

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Answered on 9/23/03, 11:52 am


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