If your home was sold by the trustee in a foreclosure auction for more money than you owed on the balance of the loan, you are entitled to the difference (CIVIL CODE SECTION 2945-2945.11). For example, if you owed $500,000 on your mortgage at the time of the trustee sale date, and the home sold at auction for $750,000, you would be entitled to the excess or surplus funds of $250,000.
Call us if this happened to you:
- Your home was sold in foreclosure for more than the loan balance owed
- You had equity in your home before it was sold by the lender in foreclosure
- You received a letter from the foreclosure trustee notifying you about surplus funds
Our foreclosure attorneys are helping more clients recover surplus funds from foreclosure sales than ever before because of the recovering economy and a recent increase in housing market prices. We are here to help Californians find out how much they are actually owned by the trustee in surplus foreclosure funds – and how to get that money back quickly.
Call us if you want to:
- Recover the surplus funds from the sale of your home
- Recover your excess funds from the foreclosure trustee by filing a legal claim
- File a wrongful foreclosure lawsuit for violations of California foreclosure laws
Going through a foreclosure is stressful, and many people don’t know that they are entitled to excess funds from the trustee sale. Lenders don’t make it clear that they have the right to claim the difference in funds from a foreclosure auction, and they certainly won’t send you a check without a formal request. Unfortunately, getting excess funds from a foreclosure sale isn’t as easy as calling your lender and providing an address to send a check.
The process of recovering surplus funds from foreclosure in California can be confusing, and take some 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 experienced foreclosure attorneys will guide you through the process for the best results with no upfront cost to you. We only get paid when we recover money for you, so there is no risk in calling today for a free consultation.
What Happens To Equity In Foreclosure?
In the event of a foreclosure sale on your home, the equity stays with you. This means that if your house is sold in foreclosure and there is excess money remaining (after fees and penalties), the difference is equity is rightfully yours. You will be the owner of the surplus funds, and no one else can claim it as theirs.
If you believe that a foreclosure is your best option, selling your home sooner can minimize the fees that you will owe and will maximize the equity. If your home was sold in a foreclosure sale, make sure you know how much equity is yours to recover all of it.
Find out How Much Foreclosure Surplus Funds You Are Owed Today
Before we are able to take action to get you access to the foreclosure surplus funds, we need to find out how much you are owed by the trustee. This is typically relatively easy to determine once we have the documentation we need.
While the simple math example we provided above is correct, there may be a few more factors to consider. If there are additional fees, penalties or arrears above and beyond the principal balance of the mortgage at the time of foreclosure, the amount you are owed could change.
Once we determine how much you are owed, we can start filing the paperwork needed to get you access to your excess funds from foreclosure. Our specialize foreclosure attorney for surplus foreclosure funds will get you the maximum amount of money in the least amount of time possible. Getting immediate help after foreclosure will increase the chance for you to get money back from foreclosure.
Get Your Money Back Fast
We understand why most people are eager to know how long it will take to get surplus funds from a foreclosure sale. Getting your money back fast is important, and our foreclosure attorneys will fight to get you the difference back as quickly as possible.
If you think that you may be owed surplus funds from foreclosure, or simply need to find out how much you are owed in excess, you should call our firm today for a free consultation. We offer free consultations via phone or in-person and accept all surplus fund clients on contingency.
This means that we don’t get paid until we collect excess funds on your behalf. Call us now so that we can start helping you recover surplus funds from your foreclosure sale immediately.