Frequently Asked Quetions
What are foreclosure surplus funds?
Foreclosure surplus funds are the amount of money left over after a foreclosed property is sold at auction and all the lenders and associated costs have been paid off. If the sale price exceeds the amount owed, that excess is referred to as surplus funds.
Do I need an attorney to help me claim surplus funds?
Although you can file a claim on your own, navigating the legal intricacies can be challenging. An experienced attorney from our team can help maximize your chances for a successful claim and handle the process more efficiently.
How do I know if I'm eligible for surplus funds?
If you were the property owner prior to the foreclosure sale, you may be entitled to surplus funds. To determine eligibility, you should review the final accounting for the foreclosure sale or contact our team for a detailed assessment.
What are Bankruptcy Surplus Funds?
Bankruptcy surplus funds occur when a debtor’s assets are liquidated during the bankruptcy process, and the total amount recovered exceeds the sum of the creditors’ claims.
What is the process to claim surplus funds?
The process typically involves filing a claim with the court or the entity that conducted the foreclosure sale. This includes submitting the necessary documents to prove your claim, such as identification and evidence of your prior ownership.
How Much Is My Claim? Where Is It?
We know how much the claim is but need your approval to pinpoint the exact location of those funds within the government agency. Once you sign, we will complete the drill down process to identify the unclaimed fund account and immediately file to get it released on your behalf.
How long do I have to claim these funds?
Time limits vary by state, but generally, you have a specific period after the foreclosure sale to claim surplus funds. Acting quickly is crucial as waiting too long could result in the funds being transferred to the state’s treasury as unclaimed property.
Where Do I Begin The Recovery Process?
Contact us by phone or email with your situation and one of our helpful and friendly associates will immediately help you with your claim. Once you sign — we get to work! We will keep you informed throughout the process, from submission, to follow-up to the official release of funds. Transparency and trust is how we operate.