Excess funds, also known as surplus funds, refer to money left over after a financial obligation has been satisfied. For example, in a foreclosure sale, if a property is sold for more than the outstanding mortgage balance and associated fees, the remaining amount is considered excess funds. These funds typically belong to the original property owner or other entitled parties, but they often go unclaimed due to lack of awareness or procedural complexities. Recovering excess funds requires understanding legal processes and timelines, making it beneficial to seek professional assistance in securing what’s rightfully yours.

The time it takes to recover excess funds can vary based on several factors, including the state’s laws, the complexity of the claim, and the responsiveness of the entities holding the funds. Typically, the process may take anywhere from a few weeks to several months if the case goes to litigation.

Yes, most states have a deadline for claiming surplus funds, which varies by jurisdiction. It’s essential to act promptly to avoid forfeiting your claim.

We only get paid if you get paid. The payment is contingent on if we successfully collect the funds. We pay for all the filing fees, meaning that you do not have to put out any money to start the proceeding. The fees vary, depending on the complexity of the case and our assessment of the likelihood of recovering the money. 

You can check with the county or court that handled the foreclosure sale. Neighborhood Resource Center specializes in surplus funds recovery can also research and identify if you are entitled to these funds.

While you can claim surplus funds independently, the process can be complex, requiring legal knowledge and detailed documentation. Professionals simplify the process, ensuring your claim is filed correctly and efficiently.