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All questions I've read so far have focused on what happens when the home sells for less than the remaining debt. What happens if someone defaults on their mortgage while the home is worth more than the remaining debt ?

Also will the usual costs associated with selling a home have to be paid as well (like closing costs, realtors, title insurance, etc.) ?

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  • The thing to remember is that in these kinds of situations, the bank is likely to tack on costs not typically associated with selling a home. It is best if the person can sell it themselves.
    – Pete B.
    May 14, 2018 at 18:01

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After the mortgage and all cost are paid, any remainder is yours to keep.

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