The stress and uncertainty of dealing with a foreclosure can be overwhelming. Fortunately, even if your home is sold at a foreclosure sale, we may still be able to help you recover a large sum of money to help with moving expenses, getting a new place, and getting back on your feet. In fact, you may be entitled to tens or even hundreds of thousands of dollars due to surplus funds that legally belong to you. We understand what you are going through, and our Florida foreclosure defense lawyers want to help you. At Loan Lawyers we treat every client like family and promise to always put your interests first.
What are Foreclosure Surplus Funds?
Foreclosure surplus funds are monies that are left over after a home is foreclosed if it is sold for more than what is owed to the bank. When all the disbursements required by the final judgment of a foreclosure sale are made, the homeowner is legally entitled to the remaining funds.
Most homeowners are not aware that these funds exist or that they may be able to claim them after the foreclosure is completed. When surplus funds exist after a foreclosure, it means that the lender has made a profit on the sale of your property. This has become very common in today’s real estate market where most properties in Florida still have equity even after a foreclosure sale. Often homeowners aren’t properly notified about the surplus money they may be entitled to, and if the claim is not made timely, they may lose their rights to the surplus and all the profits could go back to the bank.
At Loan Lawyers, we are a team of qualified and experienced consumer litigation attorneys and have helped over 8,000 people in Florida get out of debt and foreclosure, get back on their feet, and restore peace of mind. When retaining the services of someone to assist you in recovering surplus money that you may be entitled to, it is essential that you hire a law firm that knows and understands the Florida Foreclosure Laws. Foreclosures and surplus funds recovery could entail a complex process, especially if there are multiple lenders or disputes arise. In surplus cases, disputes may arise when other lienholders are claiming rights to the surplus funds as well. We have extensive experience in recovering surplus funds across the state of Florida.
Be Careful about Signing Your Rights Over to Third-Party Surplus Recovery Companies
Be careful about hiring third-party surplus recovery companies that may pressure you to sign over your rights to them. If you sign over your rights to them, they then hire an attorney, whom you know nothing about, to recover the funds and then hopefully give you a portion of the recovery. Moreover, many of these companies are scams that get unsuspecting homeowners to sign over all their rights to the surplus recovery only to disappear after they have collected the money.
Click to learn How to Prevent Surplus Fund Scams.
As licensed Florida attorneys we are obligated to follow the moral and ethical rules set by the Florida Supreme Court. We will never ask you to sign over your rights, and we only get paid if we are able to recover funds on your behalf. Additionally, our contingency fees are substantially less than what third-party surplus recovery companies charge.
Steps to Claim a Foreclosure Surplus
Some of the steps necessary to claim a foreclosure surplus include:
- Verification of surplus funds
- Providing proof of ownership and entitlement to funds
- Reaching out to, and possibly negotiating with one or more banks, mortgage holders or trustees
- Potentially disputing subsequent or inferior lienholder claims
- Submitting a claim for surplus funds
- Filing court motions
- Attending court hearings
Click to learn how to claim surplus funds from a Florida foreclosure
Why Hire Loan Lawyers?
Choosing Loan Lawyers means benefiting from our extensive experience and dedication in your foreclosure case. We’ve successfully helped thousands of Floridians prevent home foreclosures and recover substantial surplus amounts after property sales. Our lawyers understand the legal nuances of foreclosure cases and are committed to fighting for every dollar you deserve.
Banks and debt collectors know that we bring cases to trial if necessary. This reputation gives us strong leverage in negotiations and enables us to maximize your chances of reclaiming funds. Call us today for a no-obligation consultation to discuss your specific situation and learn how we can help.
Potential Challenges in Recovering Surplus Funds in Florida
If you’re trying to recover surplus foreclosure funds in Florida, several common issues might arise that can complicate the process. For example, you might encounter disputes over the surplus amount. Multiple parties, like second or third mortgage holders, might claim a right to these funds.
Documentation issues are also common. You must prepare and file proper documents with the court to claim your surplus. Missing or incorrect documentation can postpone or even prevent your recovery.
Finally, many claimants experience frustrating procedural delays. The process of claiming surplus funds can be slow, and without legal assistance, it’s easy to feel lost or give up.
Loan Lawyers is well-equipped to help you overcome the challenges of recovering surplus foreclosure funds in Florida. Our team has a strong track record of resolving disputes over fund amounts and eligibility. We can handle all the necessary paperwork and expedite processes that might otherwise drag on so your case moves forward efficiently. Furthermore, if disputes arise from creditors or other claimants, we are prepared to defend your rights.
Call our Foreclosure Surplus Funds Recovery Lawyers in Florida for a Free Consultation
Too often people lose their rights to thousands, tens of thousands, or even hundreds of thousands of dollars by either being unaware of their right to claim these funds or trusting that the bank or lienholder will look out for their best interests when that simply isn’t the case. Additionally, the process for recovering surplus funds could become quite complex and it’s not uncommon for homeowners to attempt to recover the surplus on their own, only to file things incorrectly or untimely and potentially lose out on the funds.
It is in your best interest to have experienced legal representation to help you claim surplus funds to ensure that you are getting the maximum amount of money that you are entitled to and that the process goes as quickly and smoothly as possible. At Loan Lawyers we have recovered millions of dollars in surplus funds on behalf of our clients throughout the state of Florida. There are absolutely no upfront fees or costs to you. All cases are taken on a contingency basis, meaning we only get paid if we are successful in recovering money on your behalf. Our Fort Lauderdale foreclosure defense lawyer will handle the entire process for you from beginning to end and make sure that you get the full recovery that you are entitled to, without you needing to go to court or do anything at all. Call us at 1-888-FIGHT13 (344-4813) for a free consultation to find out more about how we can help you with your surplus recovery.
