What Are Surplus Funds?

If your property is foreclosed and it sells for less than you owed on the mortgage, the unpaid portion of the loan is called a deficiency. In some states, lenders can sue you and get a deficiency judgment from a court. This judgment requires you to pay the deficiency to the lender. Depending on state law, if you don’t pay, the lender can garnish your wages or levy your bank account. But if your foreclosed property is sold for more than you owed on the mortgage, the extra money is called a surplus or surplus fund.

SURPLUS FUNDS / FORECLOSURES / TAX DEED SALES

When a sheriff’s auction or tax deed auction occurs, there is sometimes leftover cash after the bank has received their money. The leftover funds may belong to the former homeowner. However, this is sometimes not reported directly to the homeowner, and that cash is left in the hands of the state. 

Step 1: Call, email, or complete our contact form. We will answer any questions you may have, then begin the process to find any money that may be available for you.

• Step 2: We will send you the necessary paperwork needed to work on recovering your money.

• Step 3: Have the paperwork signed and notarized where needed.

• ​Step 4: Return the paperwork back to us via mail or email.

• ​Step 5: We handle the rest! You sit back and let us do the work. We will contact you as soon as a check is ready and on its way!