You are entitled to recover any surplus funds that result from the foreclosure sale of your home (CIVIL CODE SECTION 2945-2945.11). What does Surplus Funds Mean? Surplus funds arise from the difference between the sale amount of a home in a foreclosure sale and the mortgage on the house at the time of the sale. It is crucial for homeowners to collect all funds that are eligible for from the foreclosure sale so they can provide financial help for the next steps in their lives. During a … [Read more...] about Surplus Funds from Foreclosure Sales are Yours
foreclosure surplus
Information for Claiming Surplus Funds after Foreclosure Sale
What Happens After Foreclosure in California? Foreclosure is quite common in California, but not many people know that they are entitled to receive surplus funds if any equity remains after the trustee sale. Under California foreclosure law, any sale funds that exceed the balance of the loan, and the associated fees, must be returned to the prior owner. Surplus Funds after Foreclosure Is Not Always Evident The sale trustee is required to tell prior owners about any surplus resulting … [Read more...] about Information for Claiming Surplus Funds after Foreclosure Sale
What You Need to Know About Mortgage Foreclosure Surplus Funds
The housing bubble of 2008 plunged the country into a recession and caused many people to lose their homes. However, it is not all bad news because there can be a payoff that some homeowners can look forward to mortgage foreclosure surplus funds. Many homeowners are unaware that they are entitled to cash from their foreclosed property after a foreclosure auction. Whenever a property is foreclosed because of an unpaid mortgage loan, it is then put up for auction by the lender. The foreclosed … [Read more...] about What You Need to Know About Mortgage Foreclosure Surplus Funds