Can I Get a Refund after Home Foreclosures?
If you are going through a foreclosure it is important to know what to expect during and after the foreclosure process. One area that is often misunderstood is the refund process regarding excess equity. This is known as surplus property funds. Our real estate attorney can walk you through this process, but there are few things you should understand ahead of time.
For starters, your mortgage after foreclosure is null and void however any equity remaining after the foreclosure belongs to you. Even though you may face eviction after foreclosure you are still entitled to any surplus from the foreclosure. According to the law in California, when a property is sent to auction and is sold for more than the remaining amount of the mortgage, the previous owner is entitled to receive any surplus property funds.
In many cases, the best way to receive these funds is to hire a real estate attorney who fully understands the law and the process of claiming surplus property funds. If a homeowner were to file the claim alone they may leave money on the table and lose time.
Eviction and foreclosure is stressful enough, let alone working overtime to both understand the law and finding the documents necessary to gain the funds rightly deserved. Even if the amount of your mortgage surplus is not excessive, every little bit helps, and you should not give up your rights to get back the equity that is rightfully yours.
Our real estate attorney can help prevent eviction after foreclosure and assist in retrieving surplus funds in the event of a foreclosure auction. Contact Consumer Action Law Group and one of our real estate attorneys will give more detailed information on how you can retrieve surplus funds that belong to you.
What Happens after Foreclosure in California?
Foreclosure is a frightening process. Anyone faced with the prospect of foreclosure can easily become paralyzed with stress and fear. Fortunately, California law provides a provision for those who are facing foreclosure to ensure that any equity is returned to them. That provision is the surplus funds requirement.
What happens after foreclosure in California depends on what the circumstances were leading up to the sale. If you believe that you had equity in your property after it sold, contact us and our experienced real estate attorney will evaluate your claim and advise you regarding your concerns. Our real estate attorney helps property owners to understand the process for making a claim and to recover what any equity that remains after a foreclosure sale. Attorney collection of surplus funds foreclosure is a common occurrence within California courts and is the best solution for regaining surplus funds from an equity sale.
Our real estate attorney understands the details of the California surplus foreclosure funds law. Under California state law, all excess funds after foreclosure belong to the previous owner. This simple truth can make a world of difference regarding what happens after foreclosure in California. With the help of a real estate attorney residents of California can access these funds.
Our real estate attorney assist individuals in regaining these funds and we can also supply information for claiming surplus funds after foreclosure sale. Anyone who wishes to undertake the task of accessing these funds on their own can make the process easier by consulting with a real estate attorney.
Our legal team is ready to assist consumers in both recovering funds from an equity sale and even possibly reversing an illegal foreclosure. With this assistance, foreclosure does not need to be a frightening experience. It can be made that much easier with essential knowledge and understanding of the process.
Where Do Excess Funds Go after a Foreclosure?
After a foreclosure in California, the previous owner is entitled to any surplus funds remaining once the sale is final. However, many property owners face a serious challenge. That challenge is foreclosure surplus funds fraud.
Surplus funds after foreclosure strictly belong to the previous owner. A common misconception that most property owners have is that any surplus funds accrued during an eviction belong to the loan holder. This is false. In fact, many property owners find themselves asking “where do excess funds go after a foreclosure” instead of realizing surplus funds belong in their own pockets. A real estate attorney, on the other hand, realizes that surplus funds after foreclosure must be paid to the previous owner.
This basic truth is crucial in helping families, individuals, and even businesses gain back some of their investment once foreclosure occurs. All Sale Trustee’s are required, by law, to deposit excess funds from the sale into the hands of the prior owner. However, this does not always happen. A real estate attorney can assist property owners in retrieving these funds even after the sale occurs. In fact, our attorney’s job is to ensure that our client receives the funds deserved under law. In some cases, our real estate attorney can even help prevent or even stop eviction while making a claim for surplus funds.
For those who wish to avoid foreclosure surplus funds fraud, it is essential to use a real estate attorney who fully understands this process. Anyone who is undergoing foreclosure should immediately contact our real estate attorney to help recover any surplus funds after foreclosure.
Our Real Estate Attorneys Are Specialized in Recovering Foreclosure Surplus Funds
Many trustees will successfully sell properties for more than the cost of the remaining mortgage, thereby gaining a surplus sale. However, real estate attorneys help with foreclosure surplus sales by making sure that the money ends up in the right hands.
Many homeowners choose to recover these surpluses after foreclosure eviction, but the legal process is often technical and confusing. Adding to the stress, any eviction after foreclosure sale makes it difficult for the prior owner to focus on the process of recovering surplus funds. Our real estate attorney will take control of the recovery process and fight the eviction at the same time.
Homeowners can count on our real estate attorney to fully explain the process of a surplus sale funds recovery, and to also ensure that you will receive the full amount that you are entitled to.
Property owners are entitled to the excess funds of auction sales, and with the help of a real estate attorney they can gain access to these funds quickly and efficiently. Individuals can easily avoid the complicated claims process by hiring an experienced and knowledgeable professional attorney to walk them through it step-by-step.
Individuals who are going through the eviction process would do well by contacting our real estate attorney that has deep experience in helping you in recovering surplus sale funds.
How to Get Your Money back after a Foreclosure Sale
Anyone who has recently experienced foreclosure should know that not all hope is lost. Many individuals do not realize after losing their home that they can recover surplus funds after foreclosure once the sale has been finalized. However, they are often left wondering how to get money back from a foreclosure sale once the process has legally concluded.
The first step towards recovering surplus funds from a foreclosure sale starts with understanding what the process entails. Many property owners underestimate the complicated process that is involved with any case of foreclosure with equity in the home. It is critical to enlist the assistance of a real estate attorney to ensure all bases are covered moving forward. Our real estate attorney knows how to get money back from a foreclosure sale as quickly and efficiently as possible.
Any foreclosure with equity in the home is worth discussing with our surplus fund attorney. If you are entitled to surplus funds from foreclosure sales, it can help ease the burden of the foreclosure process. Without the assistance of a real estate attorney many property owners can lose out on access to these excess funds.
Surplus funds are generally calculated by analyzing the cost of the mortgage, the final sale cost, and any penalties involved. The final remaining surplus is the amount that should be paid to the previous home owner. California law requires these funds to be transferred to the prior owner who lost their home in foreclosure. The technical aspects of this process can be sorted out by a real estate attorney who understands the law. Anyone experiencing foreclosure should call our attorney today to recover surplus funds after foreclosure. There is no fee paid out of your pocket; there is no harm in making a claim; with the help of our knowledgeable real estate attorney you can recover the equity that you built and that you deserve.