Simply put, when a property is sold at a foreclosure auction,trustee’s sale or sheriff’s sale, the amount of money paid by the winning bidder over and above the outstanding mortgage balance or judgement and other expenses is considered excess proceeds.

SIMPLIFIED EXAMPLE: A property with an outstanding mortgage balance of $125,000 sells at trustee sale for $175,000. The winning bid is $50,000 above the mortgage balance. Therefore, there could be $50,000 excess proceeds from the sale. The actual amount of the excess proceeds is dependent on many things, such as loan position, liens, judgments, expenses, etc.

Up to 6 months or longer

The claims process can be difficult and time consuming. Therefore, it is beneficial to use a firm like ours that specialize in this process. We handle everything from the filing of paperwork, filing deadlines, title searches, and so much more.

There may be excess proceeds from your foreclosure if your property sold for more than the mortgage balance at a foreclosure auction. Please feel free to visit the government agency website in your jurisdiction that handles excess funds (or surplus funds). If you are able to provide information regarding your foreclosure, we may be able to determine the possibility for you to collect excess funds.

Our recovery fees vary by state and case. Please contact us directly to discuss our fees and other expenses that are involved in the claims process.

The law does not require that you have an attorney; however, strict statutes govern the process for obtaining excess proceeds after foreclosure. 

Timing is very important in this matter. You could, potentially, lose your claim to the funds if you wait too long. Depending on your county and state unclaimed funds will become government property if not claimed in some cases in as little as 6-months after the foreclosure.