IN FORCLOSURE?

OUR EXPERTS WILL GUIDE YOU THROUGH THE PROCESS TO RECOVER YOU FUNDS

WHAT WE DO

We specialize in locating and recovering overage or surplus funds after a property foreclosure sale. Our firm audits state and federal agencies throughout the country to find money owed to individuals that have been subject to a tax sale or foreclosure of their property.

SERVICES

Why choose us: Key benefits and expertise

EXPERIENCE

Our team consists of legal team has years of experience in foreclosure proceedings and surplus funds recovery. We have a deep understanding of the legal landscape and the intricacies involved in these cases, which enables us to navigate the system effectively and efficiently.

ZERO UPFRONT COST

We operate strictly on a contingency basis, meaning you pay nothing upfront. We are paid specifically when we successfully recover funds for you. This approach ensures that our interests are aligned with yours, and you can rest assured that we are fully committed to securing the best possible outcome.

PERSONALIZED SERVICE

We understand that every situation is unique. We provide tailored solutions to meet your specific needs. Our team is dedicated to providing personalized attention and customized strategies that address your individual circumstances.

Testimonials

Donald Burger

The team at State Surplus Recovery helped me get through the difficult process of losing my house to foreclosure. They were kind, honest, and understanding

Martha Collins

State Surplus Recovery is an outstanding company that guided us through the entire court process. They also provided financial support while we awaited the court hearings.

Richard Harris


Great service!

Frequently Asked Questions

Common Questions Answered for your convenience.

What are surplus funds in a foreclosure?

Surplus funds, also referred to as overage or excess funds, are the funds remaining after a mortgage is paid through the final judgment of a foreclosure auction.The trustee appointed in the foreclosure auction is responsible for disbursing the funds without charging additional fees.

I believe I am entitled to surplus funds. What happens next?

If you owned the home prior to the foreclosure and believe you may be entitled to surplus funds, you can locate the trustee soon after the auction takes place. The trustee contact information can be found on the Notice of Trustee Sale. A copy of this notice may be retrieved from the local recorder office if needed. We can assist you in locating this information as well.

Who else gets paid before I can access the surplus funds?

Junior lien holders are paid in their order of seniority before the prior homeowner(s) can receive any remaining monies.

Prior homeowners can dispute lien holders in court. The trustee turns over the funds to the court if a complaint is filed.

How much time do I have to claim surplus funds?

Trustees have 30 days from the auction to notify all interested parties (such as second mortgage holders, tax lien holders, or credit card lien holders) of the possible surplus funds via mail.Interested parties (including you) have 30 days from the notification to assert their claim.

Failure to respond within the 30-day deadline may result in losing rights to funds.

What steps are involved in claiming surplus funds?

Generally, the process involves:

1. Proof of Ownership: Providing documentation such as a copy of the property title.

2. Verification of Surplus Funds: Reviewing foreclosure records and the certificate of disbursements.

3. Contacting the Trustee: Informing the lien holder or bank about your claim.

4. Submitting a Claim: Filing a claim with the trustee and the court.

5. Court Hearings: Attending any necessary hearings or court proceedings.

Q: What documents are needed to claim surplus funds?

A: You will typically need the property title, foreclosure records, and any correspondence such as the Deposit of Surplus Funds letter.

Q: How long does it take to receive surplus funds once a claim is filed?

A: The timeframe can vary, but it generally takes several weeks to a few months to process and disburse the funds.

Is it easy to process a claim for surplus funds?

Every case is different.  In some cases, filing the claim does not have to take place immediately.

In other cases, however, filing the claim as soon as possible is crucial. Timing is everything; therefore, contact a real estate attorney who can review each case and determine if the claim should be filed sooner rather than later.

You must follow specific steps to claim the surplus funds. If you fail to follow those steps, then the surplus funds will be either abandoned or remain with the State.

What happens to surplus funds if they go unclaimed?

If surplus funds are not claimed within a certain period, they may be transferred to the court or escheat to the state.