If your home was sold in a foreclosure auction for more money than you owed on the balance of the loan, you are entitled to the difference. At RA & Associates, we routinely handle surplus claims and litigation cases for our clients, ensuring that they recover the money they deserve following a foreclosure.
Surplus funds after a foreclosure
After foreclosure, most homeowners don’t anticipate having any money left over. In fact, many expect the home to be sold for less than is owed on the loan, and for the bank to pursue them personally for the difference. However, for some individuals, the home ends up selling for more than they owe on their mortgage, resulting in excess funds from a foreclosure sale. In these cases, the homeowner may be entitled to the surplus amount.
How to claim your foreclosure surplus funds
Claiming surplus funds is an extremely technical process that can be confusing for homeowners, especially after the stress of a foreclosure. Other parties will also attempt to collect the funds that are due to the homeowner, the lender may deposit the funds with the court, and the IRS may want their piece of the pie, which further complicates matters.
Contact Us To Start Your Surplus Funds Claim
If you are attempting to claim surplus funds following a foreclosure, it is imperative that you retain the services of an experienced real estate attorney who can help you recover the money you deserve. At RA & Associates, our Los Angeles based lawyers will walk you through the entire process so you know what to expect every step of the way. Additionally, we’ll make sure you meet all the appropriate deadlines and file the proper paperwork to ensure that you are not blocked from receiving the money you’re entitled to.
Call our office today, or fill out the form to the right to get started on your surplus funds claim.