How is that possible, you may ask?
I had remembered something a long time ago in a class about this, but really never gave it much thought until now because I haven’t heard much about it since until recently… one of my past clients is getting a check for OVER $20k!?! She called me to look into what she thought may be a scam (because it sounded too good to possibly be true) but it turned out it was no scam at all….
I’d helped my client’s husband short sale his home that he’d purchased before they were married back in 2011. She was able to purchase a newer home in Anthem (under just her name) and they moved in with what they’d hoped to be a fresh start… but sadly they’d run into hard times again and lost this home to “Foreclosure”. The company that purchased their home at the Auction luckily allowed them to rent it back, so as of today they are still living there. Sadly, they no longer are able to benefit from tax write off of the mortgage interest or taxes and had equity they’d lost… well, sort of… they did end up qualifying to receive some of the equity they had up until the date of the actual auction.
PER Arizona Revised Statutes 33-812- My client is entitled to the proceeds resulting from her foreclosure of her home which was sold for more than the amount owed the lender. It got me thinking, how many more people out there I may know may be entitled to $ from their foreclosure too?
(Click image below for PDF of entire list)
Please be sure to share with anyone/everyone just in case they could benefit like my client did.
If you’re curious what happens at a Foreclosure Auction (AKA Trustee Sale), please click this link to a blog I’d written a little over 4 years ago that features a slide show from an auction I’d personally attended. Mainly, the folks today that I expect that are on this list are folks like my client that’d purchased their home when the market was down or prior to the crash and lost it since 2012 when the prices started appreciating again locally.