SURPLUS FUNDS FAQ
What are Surplus Funds?
Surplus funds, alternatively termed as 'overages' or 'excess funds,' arise when a property is sold at auction due to foreclosure, whether it be an association, mortgage, or tax-deed foreclosure. Frequently, the property fetches a price exceeding the foreclosure amount. These additional funds constitute a 'surplus,' rightfully belonging to the original homeowner or their heirs!
Can I collect these funds on my own?
Typically, you must file a motion with the court to collect these funds. You have two options: hiring your own attorney, which can be expensive as they often charge hourly rates, regardless of success. Alternatively, attorneys working on contingency may charge fees as high as 30% or more! In cases where claims are complex, our attorneys work diligently to establish your entitlement to the funds and ensure the court orders their release by the holding agency. By partnering with us, all attorney fees and related expenses are covered. There are no out-of-pocket expenses for you, and we operate strictly on a contingency basis. We only receive payment if you do, and if no funds are recovered on your behalf, our services are completely free!
Who can claim surplus funds?
The individuals or entities eligible to claim surplus funds from a foreclosure sale typically include: Original Homeowner, Heirs or Assignees, Judgment Creditors, Other Lienholders or Government Entities. It's important to note that the specific rules and procedures regarding surplus fund claims vary by jurisdiction, so individuals seeking to claim surplus funds should consult with a legal professional or the relevant authorities in their area for guidance.
What Areas Does Amazing Life LLC Serve?
Amazing Life LLC offers services nationwide, assisting homeowners in all states where surplus funds are generated from foreclosure or tax sales. We are knowledgeable about the specific laws and requirements in each state to ensure a smooth recovery process.
How Long Does It Take to Recover Surplus Funds?
The time it takes to recover surplus funds can depend on the complexity of the case and the legal processes specific to the state. However, Amazing Life LLC is dedicated to expediting the recovery process and providing clients with clear updates throughout.
Are There Any Upfront Fees with Amazing Life LLC?
No. Amazing Life LLC works on a contingency basis, meaning clients only pay a fee if their surplus funds are successfully recovered. This approach ensures a risk-free experience for homeowners.
Can Amazing Life LLC Assist with Surplus Funds from Tax Sales?
Yes, Amazing Life LLC specializes in recovering surplus funds from both foreclosure and tax sales. We are well-versed in the unique procedures and regulations surrounding tax sale surplus funds and guide clients through the process efficiently. Let me know if you'd like any further changes!4o mini
HOME SALES FAQ
What is a pre-foreclosure property?
A pre-foreclosure property is a home where the owner has missed mortgage payments, and the lender has started the process to repossess the property. Selling before foreclosure can help homeowners avoid losing their home and protect their credit score.
Why should I sell my property before foreclosure?
Selling before foreclosure allows you to:
• Protect your credit score from severe damage.
• Avoid the stress of legal proceedings and public auctions.
• Control the outcome by deciding when and how to sell.
• Receive a fair cash offer and move forward on your terms.
How do I get started?
It’s simple! Just provide your property address, and our team will quickly assess your property and give you a fair, no-obligation offer.
Will you buy my property as-is?
Yes! We buy properties in any condition—you don’t need to make repairs or worry about cleaning.
Are there any fees or commissions?
No, there are no hidden fees or commissions. The offer we present is the amount you receive at closing.
What if I still owe money on my mortgage?
That’s okay! When we purchase your property, we work with the title company to ensure your outstanding mortgage is paid off at closing.
What happens if I don’t accept your offer?
There’s no obligation to accept our offer. You’re in control—we simply provide you with options to help you make the best decision.
Is my information kept confidential?
Absolutely. Your privacy is our priority. All information you provide is kept secure and confidential.
How do I know I can trust your company?
We have a proven track record of helping homeowners in tough situations. We prioritize transparency, fairness, and providing a hassle-free experience from start to finish.
