If a home is found to be uninhabitable and beyond repair after the sheriff's sale
, the lender has foregone any proceeds from another bidder.
At a sheriff's sale
in December, Deutsche Bank bought back the modest brick house on his left from Adele Eisner, a massage therapist.
Mack, general manager of the 25,100-circulation weekly, said it wasn't too long ago that sheriff's sale
notices constituted 3% of all legal advertising.
Such a windfall could arise if the lender obtained title to the mortgaged property at sheriff's sale
(which might be worth the amount of the outstanding loan), and then pursued the borrower personally for the unpaid loan without giving the borrower credit for the value of the property sold at sheriff's sale
5 million: Lane County Sheriff's sale
of Sleep Inn & Suites motel in Eugene to Miami Beach, Fla.
The trial court confirmed a sheriff's sale
for $65,500 on December 10, 2012.
At six months after a sheriff's sale
, a third of foreclosed homes are in an extended period of vacancy.
The lender then won the bid at the sheriff's sale
and took title to the property.
Weems' bankruptcy filing forced the cancellation of the sheriff's sale
of Weems' house on North Lookout Street in Little Rock, Hope said.
This week, district officials tried to foreclose on the Ambassador property and force a sheriff's sale
to recover the deposit - which the developers spent to pay their mortgage - plus interest.