March 2, 2009
Dear George: My home is being foreclosed on. The house is appraised for more than what I owe. If I can sell it for this appraised price, can I keep the difference after everyone gets their due?
Answer: Assuming that the home has not yet been foreclosed on by the lender, if you sell the property for more than what's owed, you get to keep it. However, if the lender has foreclosed on the property, the person who was foreclosed on by the lender is not entitled to any excess proceeds.
Dear George: I suspect that my husband is trying to purchase a house without my knowledge. We are still married and share a home. Can he legally do this?
Answer: Yes.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
