How to Claim Surplus Funds from Foreclosure (Step by Step Tutorial)

Описание: If you need help claiming surplus funds from a foreclosure sale, we can help. Call (818) 804-4849 to get started today. We'll help you figure out how much surplus you have and what your next steps might look like (for free!).

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How To Claim Surplus Funds From Foreclosure:

In order for there to be surplus funds from a foreclosure sale, the house must have been sold for more than what you owed to the lender.

For example, if you had a loan for $300,000 and your home sold for $500,000 in a foreclosure sale, then a surplus of $200,000 would be remaining, and you could claim that money.

That also means that if your house was sold for less than what you still owed to the lender, there will not be any surplus funds for you to claim.

For example, if your loan was for $500,000 and the home sold for $300,000, there would be nothing remaining to claim after the foreclosure sale.

There are two ways for you to claim surplus funds from a foreclosure. One way is to pursue it yourself and the other way is to go through the process with the help of an attorney.

Method #1
To claim your surplus funds by yourself, you will need to follow these three steps:

➡️ Step 1 is to provide proof of prior ownership. This is done by proving that you are on the title, which can be done by doing a title search.

➡️ Step 2 is to provide verification of funds. You can do this by looking at the foreclosure records and subtracting the loans or liens paid off at the time of the foreclosure sale.

➡️ Step 3 is to contact the trustee. Once you have contacted your trustee, you need to submit a claim form to the trustee and possibly to the court. One thing to note is that if the surplus funds remain unclaimed after 2-3 months, the funds are typically deposited into the court.

Once you have completed these 3 steps, you will be going through the process of hearings & motions with the court and claiming your funds. You will receive the funds once you submit a successful claim and the court deems that you are the rightful claimant

Method #2
Another option to claim surplus funds is with the help of a surplus funds attorney.

Going through the process with an attorney is very helpful because they will guide you through the process and make sure that everything is done correctly.

When you call my firm, we help you figure out if there’s a surplus right away, with detailed research on title, sale proceeds, the trustee assigned, and the time frame for making a claim with the court.

Now if any of these steps sound confusing to you, don’t worry. It’s not unusual to be confused, especially if it is your first time going through the process.

If you went through foreclosure recently and think you have surplus funds, call us immediately.

Our team will be able to help right away and can also help you find out if you have surplus funds.

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Learn More About Claiming Surplus Funds From Foreclosure
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In This Video, one of our Surplus Funds Attorney Explains the Following:
► 0:00 Intro
► 0:18 When there is a surplus fund from a foreclosure sale
► 0:45 When there is NO surplus fund from a foreclosure sale
► 1:08 Ways to claim surplus fund
► 1:16 Method #1: Make a claim yourself
► 2:26 Method #2: Get an attorney's help
► 3:29 Outro

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More Information on Foreclosure and Surplus Funds

Stopping Foreclosure in Los Angeles
► https://consumeractionlawgroup.com/fo...

Best Ways to Stop Foreclosure Immediately
► https://consumeractionlawgroup.com/wh...

Recovering Surplus Funds From Foreclosure
► https://consumeractionlawgroup.com/ho...

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