We get these questions a lot. Here are our best answers...
How long does the surplus recovery process usually take?
The timeline can vary depending on state laws and the complexity of your case, but it generally takes several weeks to several months.
How is the surplus amount calculated?
The surplus is calculated by subtracting the total debt owed (including mortgages and liens) from the sale price of the foreclosed property.
Is there a statute of limitations for claiming surplus funds?
Yes, each state has its own statute of limitations. It's crucial to act promptly to avoid missing the deadline.
Why should I hire a professional to recover my surplus?
A professional can navigate the complex legal and bureaucratic processes, ensuring that you receive any funds you're entitled to without unnecessary delays or complications
What is foreclosure surplus recovery?
Foreclosure surplus recovery involves claiming any excess funds remaining after the sale of a foreclosed property pays off the mortgage and other liens.
What information do I need to provide to start the process?
You'll need to provide details about the foreclosed property, any relevant legal documents, and personal identification.
How do you get paid for your services?
Payment structures vary. Some professionals charge a flat fee, we take a percentage of the recovered surplus. All on contingency, meaning we only get paid if we recover your surplus.
Can I handle surplus recovery on my own?
Yes, it's possible to handle it on your own, but the process can be complex and time-consuming.
What happens if the property sold for less than what I owed?
There would be no surplus in this scenario. You might still owe the remaining balance unless it's forgiven or settled.
