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    clapperc's Avatar
    clapperc Posts: 2, Reputation: 1
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    #1

    Mar 3, 2008, 09:08 PM
    Foreclosure House Sale Profits
    After my chapter 13, if my house is sold for more than the bank debt, am I entitled to any of the profits?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 3, 2008, 09:11 PM
    Ok, I have to stop laughing, If the house could sell for more than the bank debt, why have you not just sold it.

    But I seldom seen them sell for even 1/2 as much as is owed at a bankrutpcy sell, many times the lender thierself bids the loan amount so they merely end up owning it.

    But if for some reason it did, then the money over goes to pay off the other debts, at a high percentage on the payment plan.
    clapperc's Avatar
    clapperc Posts: 2, Reputation: 1
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    #3

    Mar 3, 2008, 09:18 PM
    On the B-13 all debts were discharged; Including other loans on the home over the value of the home. Therefore leaving only 1 of the original loans under it's value. I tried to buy it back from the bank, but they turned it over to a real-estate firm to sell. So are you saying that any profits go back to the payment plan administrator?
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