[CLBS] excess funds from foreclosure

[Laura Burri]

I have a client that filed a chapter 7 bankruptcy in 2011. She listed her house as having no equity. The statement of intent shows she was surrendering the house. The case closed as normal as a no asset case.

The foreclosure finally took place this year in 2013. The title company has contacted the debtor that there are excess funds after payment to the lenders. Does anyone know of any reason why the debtor cannot keep the excess funds? Thank you.

Laura E. Burri
Attorney at Law
Ringert Law Chartered
455 S 3rd Street
Boise, ID 83702
Phone 208-342-4591
Fax 208-342-4657