My home was foreclosed and the judge ordered the surplus money be held in a trust account until my divorce goes to trial. I have an attorney who is not too communicative, so I have no idea where this money is. The judge ordered the money be held in trust, so some good could come from it. I want to know how much interest is applied to $80,000?
Unless we know the interest rate at which the funds are being held, and the time frame involved, this question cannot be answered. For example, $80,000 deposited at an annual percentage yield (APY) of 5.00% would collect $4,000 in interest in one year.
If you need information on the funds and the rate of interest they are earning, not to mention where they are, push your attorney for the information. You're paying his or her fee, and you're entitled to the information.
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Unless we know the interest rate at which the funds are being held, and the time frame involved, this question cannot be answered. For example, $80,000 deposited at an annual percentage yield (APY) of 5.00% would collect $4,000 in interest in one year.