house being foreclosed on

[Missgoeslow]

What is the name of your state? Washington state
My son went through a very nasty lengthy divorce. My son received the house in the divorce but the judge allowed his ex to have a Deed of Trust against the house for the amount of money he is to pay her. She is planning on forclosing on the Deed of Trust. I have tried to find out how a foreclosure works in a case like this but no one seems to know. If the house has a mortage of $100,000.00 plus he owes his exs $40,000.00 but the house is only worth $103,000.00, what happens when the homes goes up on a Sheriffs sale? Any information would be greatly appreciated.
Thank youWhat is the name of your state?

 

[pojo2]

If the house has a mortage of $100,000.00 plus he owes his exs $40,000.00 but the house is only worth $103,000.00, what happens when the homes goes up on a Sheriffs sale?

Aren't you really trying to find out if your son's obligation will die if the property is foreclosed on since there is no way for both obligations to be satisfied?

 

[Missgoeslow]

foreclosure

What do you mean "son's obligation will die if the property is foreclosed on"? From what we understand if someone was to buy the home they would have to have either cash or a cashiers check? Since it is a mobile home and it is over 10 years old, no one can get financing on it. My son tried to with all he had to refinance it and no one will do it.
No one can explain exactly what happens if no one comes up with the money needed to clear the title, at a sheriffs sale. I have even called the ads in the paper that have foreclosures listed in them and they can't even tell me what happens. I'm not trying to be difficult or anything, but I am wondering what happens to the mobile home?

 

[pojo2]

they can't even tell me what happens.

That is because it depends on many factors.

 

[Missgoeslow]

foreclosure

Does the house then go back to the bank and the ex can still come after my son if there isn't enough money to cover what she should get? I just wanted some sort of explanation as to what a person can expect when a house goes up at a sheriffs auction and no one comes up with enough money to cover everything, or what happens if no one offers anything for the house? I don't need a detailed list just kind of what a person can expect to happen?
Thank you