Updated over 6 years ago on . Most recent reply
trust deed foreclosure
in a trust deed foreclosrue sale, does the trustee get to keep the equity already in the property after paying off the defaulted loan? in other words, does the trustee just try to get the unpaid loan amount for the property or try to profit? Or turn the profit over to the lender?
for example: Scott Spivey takes out a loan on a trust deeded property, with a market value of 100k and scott took out a loan for 100k. He defaults after paying 20 k of it off. So the trustee exercises his sale right and sells it for 100k. He pays off the lender the 80k. What the happens to the 20k left over?
Will