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Brett lost his job last year. He has only been able to find temporary work and fell behind on his mortgage. His home is currently in foreclosure. He is confused as to what will happen and how the debts are paid. What is the order of payments in foreclosure?

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Nyctalus

Answer: The rule of foreclosure will apply to the given case

Explanation: When any property gets foreclosed or the lender sold it due to the repayment issues from the other party's side. Then the repayments of debt regarding that property or debt are made in the following order :-

1. Cost of sale to lender

2. special assessment and general taxes

3. Mortgages

4. other debt

The above will be the order of repayment by Brett.

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