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Surplus Funds Retrieval
Reclaim What's Yours!
If you've recently experienced a home foreclosure or the foreclosure auction is drawing near, allow us to assist you in obtaining the surplus funds you rightfully deserve!
Recovery of Excess Funds from Foreclosure
What Constitutes Excess Funds?
In most instances, when your home is foreclosed upon and subsequently sold at auction, the proceeds from the sale will first be allocated to settle the outstanding mortgage debt on the property. However, should any funds remain after satisfying all property-related debts, including taxes and liens, those funds rightfully belong to you. The responsibility for distributing these surplus funds from the sale lies with the lender who initiated the foreclosure.
Typically, excess funds are allocated in the following order:
- Costs associated with the sale of the home.
- Principal and interest owed to the lender.
- Any lienholders.
- The borrower or homeowners.
Where Are Your Surplus Funds?
After the mortgage is settled through the final judgment of a foreclosure auction, the responsibility for distributing the funds falls upon the foreclosure auction trustees. It's a common scenario for banks or government entities to seek to collect excess foreclosure funds, which rightfully belong to the homeowner who initially borrowed the money. The process of recovering these funds can be frustrating and bewildering, particularly if you're uncertain about what to anticipate or how to navigate the situation.
To circumvent such challenges, it's advisable to engage the services of an attorney. Our attorneys have successfully represented numerous clients and are well-equipped to assist you in securing the surplus funds you're entitled to
How to Reclaim Your Surplus Funds?
To successfully claim these funds as the property borrower in a foreclosure case, it's essential to collaborate with an experienced legal team specializing in foreclosure law. LPS has established partnerships with foreclosure attorneys boasting over 25 years of experience, well-versed in the intricacies of foreclosure law. They will diligently file all the required legal documents to facilitate the release of your funds to you.
Get in touch with us today to seek assistance in reclaiming your Surplus Funds!