Section 527

The proceeds of every sale effected under Section 144 of the Act, shall be applied first in payment of all costs, charges and expenses incurred in connection with the sale or attempted sales, secondly, in payment of any or all interest due on account of the mortgage in consequence whereof the mortgaged property was sold and thirdly in payment of the due on account of the mortgage including costs and charges incidental to the recovery. If there remains any balance from the proceeds of sale, the same shall be paid to the mortgagor, if he is alive, and if, he is dead, to his successors in interest.