Claim Surplus Funds After Foreclosure

Did you know that even after a foreclosure, you may be entitled to receive surplus funds? When your home is sold at a foreclosure auction, it doesn’t always end at the sale. If the property sells for more than what you owed on your mortgage and related fees, that excess amount – known as surplus funds – legally belongs to you. However, recovering these funds can be a complex and confusing process. That’s where Amerihope Alliance Legal Services comes in.

What Are Surplus Funds?

When a property is sold through foreclosure, the proceeds first go to covering the balance owed to the lender, including any interest, penalties, and legal fees. If the sale price exceeds this amount, the remaining balance is considered "surplus funds." These funds should be returned to the homeowner, but many are unaware of this or find it difficult to navigate the system to claim what's rightfully theirs.

Why Is It Difficult to Claim Surplus Funds?

While surplus funds are legally yours, recovering them can be challenging. There are several reasons for this:

  • Bureaucratic Red Tape: Each state has its own rules and procedures for claiming surplus funds, often involving complicated paperwork and deadlines.
  • Competing Claims: Other parties, such as secondary lenders, HOA's, or tax authorities, may attempt to claim part or all of the surplus funds.
  • Limited Time: You may have only a limited window to file your claim before the funds are absorbed by the state or other entities.

Many homeowners miss out on claiming these funds due to the complexities involved, leaving thousands of dollars unclaimed.

How Amerihope Alliance Can Help You

At Amerihope Alliance Legal Services, we specialize in helping homeowners claim surplus funds after foreclosure. Our experienced team of foreclosure defense attorneys understands the legal process inside and out, and we’re dedicated to making sure you recover every dollar you’re entitled to.

Here’s how we assist you:

  • Assess Your Eligibility: We’ll review your foreclosure case and determine if surplus funds are available for you to claim.
  • Handle All Legal Paperwork: Our team will handle the complicated paperwork and filing requirements so that you don’t have to worry about navigating the legal system alone.
  • Negotiate and Resolve Competing Claims: We’ll advocate for your best interests and work to resolve any competing claims that could reduce the amount of surplus funds you receive.
  • Guide You Through the Process: From start to finish, our team will be by your side, providing expert guidance and support to ensure a smooth process.

Get Started Today

If your property has been foreclosed and sold for more than what was owed, you could have surplus funds waiting for you. Don’t let bureaucratic hurdles or missed deadlines prevent you from recovering what’s rightfully yours. Amerihope Alliance is here to help you navigate the process, protect your interests, and secure your funds.

Contact us today for a free consultation and learn how we can help you claim your surplus funds after foreclosure.