[Clara C]

...auction (foreclosure), is the deed holder entitled to any money...? Consider this...The home had a market value of between $675,000-$700,000 in 2007/early 2008, but with the current economy has a market value of between $550,00-$600,000 now. If it goes to a foreclosure auction and the mortgage debt is $405,000...if it sells for $500,000-is the homeowner entitled to the extra $.?Also, can the homeowner use an auction house to auction their own home off prior to the bank auction in order to get more $.? Any insight would be appreciated.