How to Recover Surplus Funds after a Foreclosure in Florida

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What Happens if I have Surplus Funds available to Claim?

If you have been through a foreclosure, you have gone through a very stressful situation. During this stressful period, you may not realize that you have funds available to you after all is said and done. These funds are otherwise known as surplus funds or money that is left over after a foreclosure sale has happened. This money shows up on a certificate of disbursement, and can come from equity in the home, taxes, insurance, operating expenses, or other fees. Surplus funds are basically the difference between the selling price of the home and the outstanding loan balance.

Most people who go through a foreclosure are not aware that they have these funds available to them. This lack of notice should not stop you, however, from pursuing a claim for surplus funds following a foreclosure.

How will you know? You will start getting solicitations in the mail from a ton of people telling you there is money for you. I strongly suggest you contact a legitimate law firm to handle this for you.

These funds can be significant, depending on your situation, and if you had equity in the home before the lender sold it. For example, if you owe $140,000 on your home, but the bank sells it for $200,000. That could mean $60,000 goes directly to you. We get paid a percentage of that recovery, so you do not pay a cent to us unless we recover money for you. That money can go a long way in helping you get back on your feet after a foreclosure.

Recently we recovered over $65,000 for a client just last week! Another client we were able to recover $40,000 for a foreclosure surplus.

File A Claim For Surplus Funds

Fill out the form below and our office will contact you to discuss your options

If you think you have surplus funds owed to you after a foreclosure, the following steps should be taken to claim them.

  1. Provide Proof of Ownership.

You will need to specify proof of ownership of the home by providing a copy of the title that showed you were the last owner of the property. If you do not have a copy of the title on hand, this can be accomplished by doing a title search, as well. We handle this and every other step for you.

  1. Verification of Surplus Funds.

The next step is to determine if there are funds in surplus after the foreclosure. This is done by subtracting the loans or liens that were held against the property against the amount the property was sold for at auction. This can be done by looking at the foreclosure records, or by looking at the letter informing you about the surplus funds.

  1. Reach out to us.

Your next step will be to reach out to the bank or lienholder who held your loan, informing them that there are excess funds due to you. If you had a second or third mortgage on the property, this may involve reaching out to multiple lenders.

  1. Submitting a Claim for Surplus Funds.

You will then need to submit a formal claim for the funds to the trustee and the court. The claim will then be examined, and if they find that there are excess funds due to you, the process to issue those funds will be initiated. If the funds are not claimed after two or three months, however, the court will receive the money instead of you.

  1. Hearings and Motions.

Occasionally, hearings and other court proceedings will need to be held before you can gain access to the funds owed to you. It is recommended that you consult the Benenati Law Firm to assist you along the way in these proceedings.

Know Your Rights to Surplus Funds.

Most people are unaware of their right to surplus funds in a foreclosure proceeding, which is why it is important to have legal counsel representing you. Do not assume the lender or lienholder will have your best interest at heart.

You should always be notified in a letter that excess funds are associated with the sale of your home. If you are not, the lienholder or lender is in breach of the law in willfully withholding this information from you.

We recommend you enlist the help of an attorney who can guide you through the process and ensure all of the proper steps are taken. An attorney can help ensure that you have access to all of the documents needed to claim surplus funds. They can also help you serve notice to the lienholder and ensure that the claims process is done properly. Your attorney will also be able to make sure that the former homeowner is the correct party to receive the funds and that there are no other lienholders, such as second or third mortgage-holders, who will be paid first from the excess funds before the homeowner.

Trying to recover these surplus funds can be a complex one and without proper legal representation, you could be missing out on money that is rightfully yours.

Contact Benenati Law Firm Today.

If you believe you have surplus funds available to you after the foreclosure of your home, do not delay. You will want to initiate the claims process right away. At the Benenati Law Firm, we are skilled in all areas of foreclosure and will provide you with the proper guidance and representation throughout the surplus claims process. Be aware that many of the letters you receive are from other parts of the state or even from anther state OR WORSE, they are not even lawyers. Let us help you. 

Remember, we are local and in your hometown. We make our hours convenient for our clients and offer free consultations on Saturdays (9:00 a.m. – 3:00 p.m.) along with our normal business hours throughout the week. Go to or call 407-777-7777 to set up a free private consultation and learn more information. Because Life Has a Restart Button. 

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