If the proceeds of a foreclosure sale cover the costs and the mortgage debt, any surplus is a windfall to the creditor.

Name: If the proceeds of a foreclosure sale cover the costs and the mortgage debt, any surplus is a windfall to the creditor.
Brand: Quizplus
Rating: 5.0 (36 reviews)

Question

Quizplus · Accepted Answer

If the proceeds of a foreclosure sale exceed the costs and the mortgage debt, any surplus is typically returned to the borrower, not the creditor.

If the Proceeds of a Foreclosure Sale Cover the Costs