What is Foreclosure Surplus Recovery?
After a foreclosure surplus recovery, if the property is auctioned for more than owed, excess funds are held by the court. Former homeowners may reclaim them, potentially improving their financial situation.
The Benefits of Surplus Funds Recovery
Surplus funds recovery after foreclosure offers financial relief, enabling debt settlement, improving credit, and supporting strategic investments. It ensures legal entitlement, reducing financial stress and fostering a more stable future.
Are You Entitled to Surplus Funds?
Eligibility for foreclosure surplus depends on factors like state regulations and property sale details. Seeking professional guidance ensures compliance and potential entitlement to surplus funds.
Liens on the property must be addressed, with lien holders possibly entitled to a share. Settling owed county taxes is a prerequisite for foreclosure surplus fund eligibility.
The Process
When your or your deceased family member's property is sold at a foreclosure auction, and the sale surpasses the outstanding debt on the property, the surplus proceeds from the transaction can be claimed by the rightful homeowner or heir.
How We Help People Recover Surplus Funds
By leveraging our resources, the Equity Elite team has ascertained the presence of these funds and identified you as the rightful claimant or heir.
After a free phone consultation with one of our Recovery Agents, you grant approval for a single-page claim form. This enables our legal team to initiate the pursuit of funds on your behalf, without requiring any upfront or out-of-pocket expenses from you.
After authorizing our representation, we handle all essential tasks. Our legal team prepares and submits the necessary notices and motions, coordinating with the attorneys of other involved parties and scheduling hearings with the judge as required.
Once the judge grants approval to our petition and issues an order for fund distribution, the County Clerk of Courts will release your entitled portion, and a check will be sent to you by mail.
Our services include filing necessary paperwork, connecting with our lawyers, and advocating for your rights to ensure you receive the maximum amount of money you're owed. Let us handle the complexities while you focus on reclaiming your funds.
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