[tryan]

Quote:

Does the mortgage company toss the occupant? Do they just advertize it as forclosed for sell? Is the amount they can sell for governed by any rusles.

In the northeast I've seen banks allow the occupants stay in the house. Winters are too harsh to have a building empty (1 person generates the heat of a 100 watt bulb!). But this varys by bank.

Yes, by law the foreclosure is advertised to notify all lean holders.

The bank is motivated to sell at a price above expenses, fees and debt. I am not aware of any "restrictions" places by any laws.

With 70k equity ... best to pay the back payments. Sooner than later as late fees and foreclosure expenses will accumulate quickly. Too many lawyers involved for these things to be cheap.