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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2849
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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If a bank cannot sell a surroundered house and there is

Resolved Question:

If a bank cannot sell a surroundered house and there is money owed what happens next
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.

Hi, thank you for your further question. The bank will make all efforts to sell the repossessed house, even if it means a lower asking price than the market rates. If there remain money owed the bank will seek for the people who took out the mortgage to pay the shortfall.

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