What is Foreclosure Sale Overage Recovery?

Foreclosure Sale Overages or Surplus Funds, occur when a property is sold at a foreclosure auction by the Lender that holds the mortgage in the county where the property is located  and usually for unpaid/past due mortgage payments and the property is sold for more than the amount of mortgage  owed. 

The Lender nor the County  is entitled to the overage or surplus. It rightfully belongs to the previous property owner and the majority of home owners are not aware of this. So the funds go unclaimed. 

The County is required to notify the previous home owners of the overage however, the notification is sent by regular mail to the last known address which, in most cases is the foreclosed property address and if the previous home owner does not do a change of address with the post office then they would never find out about the overage. 

Facts:

In 2022, there were 324,237 foreclosures in the United States. That was an increase of 173,084 over 2021 which was 151,153. In most of the over 3000 counties in the United States a home is sold in a Foreclosure Auction every week. That is a staggering 6235+ a week.  

What we do:

We research County Records to find the Home/Property Foreclosure Sales looking for these overages for individuals just like you all across the country. Putting the money they deserve back into their hands. 

How we do it:

1) We access the County Government databases. 

2) We research, locate and verify that we have the most recent contact information for the person listed on the sales record in the database before we make the notification to them that they have an Home or Property Foreclosure Sale Overage or Surplus due to them. 

Contact us today to find out more about how we can help you discover if you have Home or Property Foreclosure Overage or Surplus funds owed to you.