FAQ

► How much would I get upfront? The grant is typically 5-10% of the overbid amount. We estimate the overbid ((aka the surplus funds)) will be approximately ((give them the estimate)). If that is the case, you could receive ((5-10%)) of that amount as a grant as soon as the foreclosure is finalized, up to $10,000. The average grant is $5,000.

► If you are estimating that there is going to be ((estimated overbid/surplus funds)), what would we get of that?  The grant company will go over the terms with you. They are a BBB accredited company with an A+ rating, zero complaints, and over 15 years accredited. They will cover any and all attorney costs, research costs, notaries, etc.

► I have a company/person interested in buying the property. Should I stop taking offers? No, absolutely not. If you are able to sell the property outright, that would be your best  move.

► Can we stay in the property after the foreclosure? Only as long as the statute allows.  I would count on moving out soon. Remember – we are not stopping the foreclosure.

► Will this have an impact on my/our credit?  We are not a credit repair company. We can’t speak to that.

► What if ((the other deed holder)) doesn’t want to speak with you?  We must have all deed holders sign off on the agreement. Without that, we can’t issue a grant.

► What would we be signing if we come to terms with the grant company?  They would require you sign a contract for the retrieval of the overbid, and a deed conveying ownership so that they would have a way to recoup the grant paid.

► I was considering paying off the debt to stop the foreclosure. Should I still do that?  The best outcome for you to be to pay that debt off without us, or to make a deal with the foreclosing entity. Then you could sell the property for maximum profit without us.

► How would the grant be paid?  After the sales price at auction was confirmed, the grant could be sent by check or the grant company can even ach credit – electronic check – directly into you account.

► What needs to happen from our end to get the grant?  You would sign the contract and the quit claim deed, the deed would be recorded, and the property would of course sell for more money than the debt owed, creating an overbid.

► What if it sells for more money than you think?  The agreements are based on apercentage of the overbid. If it sells for more, you make more.

► Can I use the grant to catch up payments with the ((tax department, mortgage company, etc)).  You could, but it would not be of help to you. The quit claim deed transfers ownership to the grant company, so it would not be a good idea to bring the debt current because you will not own it.

► What if it sells for less money?  As long as there is an overbid that would be worth it to pursue, given the attorney and research costs incurred, the grant company could still go after it. If it is too low of an overbid, the grant company will probably not issue the grant and will assign the overbid back to you, so that you could pursue it yourself.

► I have the property listed with a realtor. Is that an issue?  You would need to tell the Realtor that you would like to pursue another option and get a cancelled listingagreement from them. However, if you believe you can sell the property before the foreclosure, your best course of action would be to do that instead.

► Is there any way you could lend me enough money to keep the property?  Unfortunately, no. The company that issues these grants is for profit and is not a lender.

► I have an attorney working on this for me. Should I continue to work with them? We do not interfere with folks and their attorneys. If you are currently attempting to use an attorney on this matter, we would recommend you continue to do that. 

► What else will I need to provide to get the grant?  The contracts and deed would have to be signed and witnessed with a notary, which the grant company would set up and pay for. The mobile notary would need you to provide a government issued photo id, and sign in their presence. In a few states, a witness can be required for the deed, but the grant company would be able to answer that. The notary is licensed with the State, and would meet you at your convenience at a place of your choosing.

► The other deed holder is incompetent. Is this an issue?  Yes, that is an issue. We would need to have a court confirmed copy of a recorded power of attorney for them, that specifically gave that person the authority to sell the property.

► The other deed holder is deceased. Can we still work something out?  Unfortunately, no. We would need all deed holders on the contracts and deeds.

► We’ve already sold/contracted on the property.  Can we still get the grant?  Unfortunately, no. You need to honor any agreement you currently have in place.

► I don’t think the property is going into foreclosure?  We are basing this on ((your source of the upcoming foreclosure)), which is public record. If that information is incorrect, I apologize for any inconvenience.

► After the foreclosure, if there is an overbid, how long does it take to recover that?  The grant company will walk you through that. It is different from County to County, and depends on the number of foreclosures and the grant company’s attorney’s schedule.

► How did you get me number?  We use a subscription based people finder system to get contact information.

►How do you get paid? We get paid when the grant company successfully retrieves the overbid, after you are paid.