What Exactly is a Surplus Fund?

The surplus fund is the amount that arises from the difference between the sale amount of the foreclosed home and the mortgage on the house at the time of the sale.

Homeowners are entitled to recover any surplus funds that result from the foreclosure sale of their home (CIVIL CODE SECTION 2945-2945.11).

It is crucial for homeowners to collect all funds that are eligible for from the foreclosure sale so they can accumulate financial help for the next steps in their lives.

 

What Happens After a Foreclosure Sale?

Homeowners have 120 days to make a claim to these funds. If homeowner does not make a claim these funds go the state as unclaimed funds.

Fortunately, with a surplus fund attorney’s help, it becomes easier to find out if you are owed any excess funds and how to get the funds.

If your home has been foreclosed call our Surplus Attorney now to see if have money coming to you.

Contact Us »