like sand in the hourglass . . .

When you’re facing the loss of your home or property through foreclosure, there is an unequivocal strain for your family and on your finances. Once your home is sold and the liens on your home are paid off, you’re entitled to any excess proceeds. But to recover that leftover money, you must follow the procedures the law and the courts set up. A lawyer experienced in handling the recovery of excess foreclosure funds can help.

After the foreclosure of your home, the court will order the sale to the highest bidder. The sale will go to paying off any liens on your home and the costs of foreclosing on and selling your home. If there is more than $25 left, you are entitled to the excess money, and you’ll have two years to petition the court for these funds.

Once you petition the court to recover your excess proceeds, the average time to recover excess proceeds is typically 90 to 120 days. However, more complicated claims take more time. Your claim may be simple to process if:

• The previous owner is still living,
• There was only one property owner,
• There are no additional claims on the funds, and
• There are no additional liens on your property.

If the previous property owner is deceased or there are competing claims, getting the money in your bank account may take longer. When you need the funds as soon as possible, you need an experienced attorney to make the process happen as quickly as possible.