Frequently Asked Questions

When going through a foreclosure, you may hear the phrase "surplus funds." These excess funds occur when your home is sold for more than your mortgage or tax debt.

For example, if your home is sold for $250,000, but there is $150,000 left on your mortgage, you could be entitled to excess funds of $100,000.

This money belongs to you, but many people don't know they can claim it. That's where we come in - we help you recover what's rightfully yours.

No upfront costs whatsoever. We work on a contingency basis, meaning you pay nothing unless we recover funds for you.

If we don't succeed in recovering your money, you owe us nothing. Our fee is only a percentage of the funds we successfully recover for you.

This ensures that our interests are completely aligned with yours - we only get paid when you do.

Yes, you can definitely do the research and file the claim on your own. However, without professional help, finding out where your surplus funds are located and then going through the steps to make a claim can be quite:

• Frustrating
• Stressful
• Time-consuming
• Complex

We provide a service to clients who don't want to invest their time and effort into researching and filing claims. We handle the paperwork, navigate the legal system, and fight for your maximum recovery.

Each claim is different, and each entity which holds surplus funds works by their own guidelines. However, here are general timelines:

• Foreclosure surplus: Typically 60-120 days
• Tax sale overages: Can take up to 12 months
• Complex cases: May take longer depending on the jurisdiction

We work diligently to expedite your claim and keep you informed throughout the entire process.

Yes, there is often a deadline. Many sources of funds have an expiration date, and after a certain period of time has passed, the monies are lost forever.

Once funds escheat to the state, claiming them becomes significantly more difficult and sometimes impossible. Time is of the essence when it comes to surplus funds recovery.

Don't wait! Contact us today to find out if you have funds available and to ensure you don't miss any deadlines.

If you've received communication from us, it's because we can help you. We likely have found money that belongs to you, but is being held by the county clerk or another entity.

We've done the initial research and believe you have surplus funds available. Contact us to learn more about your specific situation and start the recovery process.

One way to determine if the company or person you're dealing with is unethical is if they ask you for any money upfront.

With a legitimate claim, there is never any reason to require upfront cash to pursue the funds. We will never ask you for any upfront money and will advance any out-of-pocket expenses in establishing your right to the monies owed.

We're also BBB accredited with an A+ rating, and we're happy to provide references from past clients who have successfully recovered funds.

To get started, we'll need some basic information to research your case:

• Your full legal name
• The property address in question
• Approximate date of foreclosure or tax sale
• Contact information (phone and email)

Once we verify funds are available, we'll guide you through providing any additional documentation needed for your claim.

Surplus funds can be generated from various types of properties:

• Residential homes: Single-family houses, condos, townhomes
• Commercial properties: Retail spaces, office buildings, warehouses
• Vacant land: Empty lots that were sold at tax sales
• Multi-family properties: Duplexes, triplexes, apartment buildings

The key factor is that the property was sold for more than the total debt owed, creating surplus funds that belong to you.

Even if you haven't owned the property for years, you may still be entitled to claim the surplus funds.

If you don't claim your surplus funds, you risk losing them permanently. Here's what can happen:

• Escheatment: After the claim period expires, funds may transfer to the state's unclaimed property division
• Barred claims: Many jurisdictions have strict deadlines - miss them and your claim is forever barred
• Increased difficulty: Once funds escheat to the state, the recovery process becomes much more complex
• Additional fees: State recovery processes often involve additional paperwork and potential fees

Don't let the government keep what's rightfully yours. Contact us today to protect your claim.

The tax treatment of surplus funds can be complex and depends on your specific situation:

• In many cases, surplus funds may be considered a return of your own equity (not taxable)
• Situations involving cancelled debt may have different tax implications
• The IRS has specific rules regarding foreclosure and tax sale scenarios
• State tax laws vary significantly

We are not tax professionals and cannot provide tax advice. However, we can provide documentation to help your tax professional determine the correct treatment.

We strongly recommend consulting with a qualified CPA or tax attorney regarding your specific situation.

Bankruptcy adds complexity to surplus funds claims, but doesn't necessarily disqualify you:

• Chapter 7: Surplus funds may be considered part of the bankruptcy estate
• Chapter 13: Depends on your repayment plan and court approval
• Discharged bankruptcy: You may be able to claim funds after your case is closed

The timing of when the foreclosure sale occurred relative to your bankruptcy filing is crucial.

Important: If you have or are considering bankruptcy, consult with your bankruptcy attorney before claiming surplus funds, as this could affect your case.

When multiple parties have rights to surplus funds, we handle these cases regularly:

• Multiple heirs: We can help coordinate claims among all entitled family members
• Joint owners: Funds are typically divided according to ownership percentages
• Divorce situations: Court orders and divorce decrees will guide distribution
• Missing heirs: We can help locate and notify all entitled parties

All entitled parties typically need to be identified and participate in the claim process.

We have experience navigating complex multi-party claims and can ensure everyone receives their fair share.