If you recently lost your house to a foreclosure, it’s important to know there are viable solutions to minimizing your losses. Losing your home is bad enough. Fortunately, asset recovery enables you to reclaim funds and property after foreclosure. If asset recovery is daunting, at Claim Surplus, we are the premier asset recovery company. With decades of experience, we will be in your corner to ensure you get what you deserve through personalized, innovative solutions.

Here is a guide to asset recovery:

What is asset recovery after a foreclosure?

Understanding the asset recovery process requires understanding what asset recovery is. Asset recovery refers to a broad range of funds.

During foreclosure, many people forget, ignore, or are unaware of the fact that they can recover assets from people, entities, or agencies holding money or property. You have a right to this property and these funds. There are two types of recovery:

Abandoned funds recovery

Abandoned funds recovery involves securing:

• Funds owed after foreclosure.

• Lost funds assistance held by the court or trustee.

• The property you rightfully own.

Judgment recovery

A judgment recovery refers to when:

• An entity or individual owes you money after providing services.

• You enforce a judgment to seize property or collect money owed.

• You are unable to secure money owed independently.

• A judgment entitles you to subsequent payments.

Navigating asset recovery is difficult, but at Claim Surplus, we have the experience and connections to help you and your attorney recover your assets.

What are the steps to asset recovery?

Pursuing asset recovery is a complex process that requires extensive training and experience. Fortunately, at Claim Surplus, we have the expertise to recover your assets. Here are the steps:

Evaluate home equity.

First, we evaluate home equity. Home equity is the part of the property you actually own and a dynamic asset subject to vacillations depending on mortgage payments and market environments.

Your down payment establishes the initial value, which grows as you make payments. You can use equity as collateral for loans or credit. Home equity loans enable you to procure a certain amount for a fixed rate over a specific period.

HELOC, or a home equity line of credit, enables you to borrow to a limit over a period at an adjustable interest rate. Lenders are entitled to only what you still owe on the mortgage. Since foreclosed homes often sell for more than you owe, funds are usually available.

These funds are your equity and a recoverable asset. Still, depending on if you received a home equity loan or HELOC, asset recovery differs. They introduce different liens and lenders entitled to surplus funds before you.

Analyze documents and the environment.

Afterward, we carefully analyze all existing loan documentation to weigh your options. We assess the strengths and weaknesses of your lender’s position and that of any guarantors and secured creditors. We also evaluate any relevant environmental factors, like collateral and risks.

Prepare, negotiate, and recover.

After thoroughly assessing your situation, we prepare documentation and negotiate to help recover your assets.

We work with your lender’s asset recovery professionals to identify opportunities and alternative solutions and compose modifications, forbearance, deeds in lieu agreements, and more.

During this process, we exhaust all potential recovery avenues regarding foreclosure and repossession. However, if necessary, you will go to court.

Contact us now to get started!

If you recently endured a foreclosure, all is not lost. Asset recovery is crucial to reclaiming property and funds to secure your future and optimize your fresh start. Fortunately, at Claim Surplus, we boast decades of experience, unrivaled expertise, and unmatched competence in helping clients reclaim what is rightfully theirs. We boast tailored, innovative solutions and an intuitive app that streamlines communication. Contact us now to get started!