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
recover surplus funds
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