​

• Losing your home to tax foreclosure can be heartbreaking, but you should know that if the property is sold for more than the amount owed in taxes there may be money that you can get. We do all the research, obtain and deliver the paperwork and communicate with the right agency and person to claim your money. You pay nothing out of pocket, we receive a small percentage when your money is paid.

 

• Sometimes a lender may set the starting bid at the auction for the mortgage owed plus additional interest. If a home is sold for more than the balance of the mortgage loan, the difference is called surplus funds that are generally owed to the owner at time of the tax or foreclosure sale.

​

• However, to recover the surplus funds, you must act within a certain period. If you fail to take action during the time specified by the state, county, or court system then you could lose the right to the funds. If no surplus money claims are filed by the homeowner, then other parties, such as the second mortgage holder, tax lien holder or credit card lien holder, may file the claim. When a claim for surplus funds is filed, the court will set a hearing to determine who is entitled to the funds. Typically, subordinate lien holders get access to surplus funds first and then the balance goes towards paying the second mortgage if there is one. If there are any remaining funds after all lien holders have been paid, you will be entitled to that surplus. 

​

• If you believe that the bank will notify you of any excess funds, then you are wrong. Often these funds go unclaimed as many homeowners are unaware that they are entitled to money left over after a foreclosure/tax sale. Going through a foreclosure is an emotional process. Most people just figure that the house will be sold for what they owe or less.