Recovering Foreclosure Sale Funds FAQ

What Happens After a Tax Foreclosure Sale?

If you have unpaid debts on your home, such as a lien from a lawsuit, unpaid property taxes, a mechanic’s lien from unpaid contractors, or an unpaid mortgage, you may face the foreclosure and sale of your home. When this happens, the lien holder will sell your home to the highest bidder to pay your unpaid mortgage, taxes, or other debts. But in many cases, money will still be left over from the foreclosure sale after satisfying your debts.   

How Can I Claim the Excess Money from a Foreclosure Sale?  

If the foreclosure sale of your home generated more than $25 in excess funds, you might be entitled to the excess money. However, you will only have a limited window from the date of the sale to do so. Every case and claim is different, and with the time constraints, it pays to have the support of attorneys that do this every day.

The trustee or court officer handling the foreclosure has a duty to notify you of any excess funds from the sale. However, they generally send this notice to your last known address. More often than not, this is the foreclosed home where you no longer live and where you will not receive the notice. Recovering any such funds can take years if you don't catch red flags in advance.   

What Can a Surplus Funds Recover Lawyer Do for Me?  

If you’re facing the foreclosure of your home for any reason, it’s stressful and often heartbreaking. You shouldn’t have to worry about tracking down the excess money generated from the sale of your home on top of everything else. A skilled surplus funds recovery lawyer can handle the process, ensuring you get your money as quickly and efficiently as possible. If you didn’t receive a notice, your attorney can research whether there were excess funds and whether you’re entitled to them and ensure you don’t miss the deadline to recover them.  

You Need an Experienced Surplus Funds Recovery Attorney  

If you’re going through a tax foreclosure sale and are concerned about recovering the excess money after the sale, you need an experienced professional by your side. The skilled team at Manfred Law can help. Contact us online today to see if we can shoulder some of the burden in these stressful times.