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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.
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.
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.
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.
Mr. Sternberg’s track record and experience of working with clients from the earliest stages of their cases allows him to bring a uniquely broad-based perspective to the matters he handles.
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Phone: 713-547-5460
1700 Post Oak Blvd
2 BLVD Place Suite 610
Houston, TX 77056
201 St. Charles Avenue
Suite 2500 PMB # 8873
New Orleans, LA 70170
Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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