How do I get the money from a house that I inherited which was foreclosed on but for more that the amount of the mortgage owed?

UPDATED: Sep 30, 2022

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How do I get the money from a house that I inherited which was foreclosed on but for more that the amount of the mortgage owed?

My mother died almost a year ago and did not leave a Will. Her house got foreclosed on

2 months ago. She only owed $30,000 on it, went to auction for $38,000 and sold for close to $50,000. It’s just me and my older brother, however the mortgage company will not tell us anything on the foreclosure. I really don’t know what to do.

Asked on December 19, 2016 under Estate Planning, Alabama


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You will need a court order to compel them to release the information and then the money. You will have to file a lawsuit seeking the equity in the house from them and, as part of that, you will be able to use the legal process or procedures of "discovery" to get the information you need. At the end of the suit, the court can order them to pay whatever amount, less costs of sale and paying off the loan, you are entitled to. If the estate has not been fully probated, the personal representative or administrator should bring the suit on behalf of the estate; if it has been probated, the heir(s) can bring it.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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