What are Excess Proceeds or
Surplus FUNDS?
If your home or the home of a deceased family member was sold by the trustee in a
foreclosure auction for more money than what was owed on the balance of the loan, you are entitled to the difference. The money left over is referred to as Excess Proceeds or Surplus Funds.
For example, if you owed $300,000 on your mortgage at the time of the trustee's sale, and the home sold at auction for $400,000, you would be entitled to the excess proceeds of $100,000. Sometimes there may be a lien or judgement on the foreclosed home. If that is the case, then the lien holder may have a right to their portion of the proceeds or possibly all of it depending on the amount of the lien.
The proceeds are deposited at the Treasurer's Office in the county where the foreclosure took place. The Trustee is required to mail a notice to the homeowner’s last known address. The problem is the last known address is usually the foreclosed property, which the homeowner has vacated without providing a forwarding address.
That's where we come in. We obtain excess proceeds list from various county websites and start our searches using many skip tracing sources. As you can well imagine, this is the most difficult part. Most everyone believes that we are some type of scam or hoax because it's too good to be true.
OVER $4 BILLION DOLLARS IN UNCLAIMED money IS SITTING IN GOVERNMENT BANK ACCOUNTS!
HOW MUCH OF THAT MONEY BELONGS TO YOU?
Unfortunately, receiving your excess proceeds check from a foreclosure sale isn’t as easy as calling your lender and providing an address to send it to. The process of recovering the funds from a foreclosure can be confusing, and takes time to complete. Because lenders are of no assistance in this situation, most consumers are left with no real guidance on how to proceed. Our tenacity here at U.S. Excess Proceeds and the knowledge of our attorney Marc Windtberg make an excellent team that will not disappoint.
There are never any upfront fees, ever! We only get paid when we recover the excess proceeds for you so there is no risk in calling today for a free consultation.
(928) 636-4544
PREPARE COURT DOCUMENTS AND
OBTAIN RECORDED DOCUMENTS
* We prepare and mail court documents for your notarized signature/s
*Obtain all required supporting documents
* Turn your case over to our attorney, Marc
*Marc reviews and files your case
FOLLOW YOUR CASE
* We will keep you informed throughout the several steps that must be taken in order to collect your proceeds.
*We will mail or email you a copy of the Application and the Affidvait Of Mailing once it has been filed.
*The process can take from six to eight months.
YOU RECEIVE YOUR
$$ CHECK $$
* Once the judge signs
the Order For Release
Of Excess Proceeds,
the Treasurer's
Office releases the
funds to our attorney
Marc which is depostied
into his trust account.
* Marc's accountant will
then disburse the
check directly to you.