What are Excess Funds?
When a bank or taxing authority forecloses on a home they do so to recover money they are owed but haven’t received from the homeowner such as property tax or mortgage payments. Once a foreclosure has occurred, the controlling entity will usually put the home up for sale, generally though an auction.
The home may sell for more money than is owed to all interested parties (county, mortgage holder, etc.). When this occurs an overage is created and that overage generally needs to go back to the homeowner that was foreclosed upon. Usually the government will send a notice to the homeowner to inform them of this overage. However – the notice is often sent to the homeowner’s address on file – the address of the property the homeowner lost to foreclosure. That’s why most homeowners in this situation go unnotified of the situation.
To make matters worse there is often a time limit (two years) to claim these overages before they become permanent property of the government.
How We Serve You
Our team will research your case and gather all necessary information to determine if you are entitled to excess funds from the sale of your home after foreclosure.
If excess funds are found we will handle all aspects of retrieving them. Due to where these funds are stored, retrieving them is not always straight forward. However with our team is experienced in the return of excess funds and can navigate the process for you.
As we work, you’ll be notified each step of the way with email and/or text messages. Once the funds are returned we’ll notify you and send you a check right away.
Contact us. We’ll answer your questions, gather all necessary information and then send you paperwork necessary to get started.
You’ll review all paperwork, sign, and have them notarized where necessary. Then return the completed paperwork to us.
We’ll keep you updated as the status of your claim progresses. Once the money is returned we’ll let you know it’s on its way.
Request More Information
To get information on how we can help you recover your potential overage, fill out the information below. A specialist will reach out to you based on your contact preferences.