Over the past five years, Auction.com foreclosure sales have generated more than $1.2 billion in surplus funds. This happens when a property sells at foreclosure sale for more than what the borrower owes on the property.
“More competition gives each foreclosure sale a better chance of generating surplus funds,” said Auction.com VP of Market Economics Daren Blomquist. “Nearly half of all Auction.com foreclosure sales generated surplus funds in 2019 — a new record high. The average surplus was more than $34,000.”
Learn how a transparent marketplace of 6.3 million potential buyers protects distressed homeowners and potentially uncovers hidden home equity by watching the latest episode of Disposition Download.