How to collect unclaimed money from foreclosure
When you lose your home, it can seem like you’re losing everything you’ve worked toward all at once. A home is the most valuable asset many people have, and they’re filled with items of both sentimental and monetary value. Losing that doesn’t just mean losing a lot of memories you’ve made, but also the financial value you’ve worked hard to earn over time. This isn’t the entirely hopeless situation it may seem to be, though, and you may actually have a large sum of unclaimed money from foreclosure potentially coming your way.
The equity recovery experts at Claim Surplus are hard at work for a number of other clients facing this very intimidating situation. In the wake of such a significant loss, it’s important to have expert help at your side to make sure you lose as little as possible from foreclosure. It can take detailed research and time to find the right channels and the best ways to claim as much of your money as you can, which is made much easier when you have knowledgeable counsel to help you. Read on for our tips to claim your money and some information about how we can help.
How does unclaimed equity work?
Before you can claim your money, you need to find out how much may actually be coming your way. This is likely if your home was sold at auction, as the funds you’d be potentially receiving are surplus funds from the sale. Not all states necessarily make this money available to you, though. NY, KY, WI, IL. MT, and ND don’t have to return any surplus funds to you, for example. For other states, there’s a five-year waiting period after the sale of your home in which you can claim this money.
It’s a simple enough task to find out for sure whether you’re owed any money if your home was sold at auction. Contact the public trustee or county clerk’s office in the county where the home was sold and ask if any balance is left or for a report of any disbursements after the sale. For more information on how to find the public trustee to contact and other details related to this process, take a look at this article from Homes.com.
An important detail to remember, though, is that you won’t necessarily have money left for you to claim under any circumstances of your home getting foreclosed. If the home was taken back by the bank due to an unpaid mortgage, for example, surplus funds aren’t going to be available for you to claim. In fact, in this situation, you’re likely going to have to pay more money to settle your debt.
Claiming your money
When you contact the individual responsible for overseeing the sale, you need to make sure they have the right address and contact information for you to receive your unclaimed funds. You should follow up with a letter sent by certified mail/return receipt requested and regular mail. When you speak with this person, make sure you ask what’s required of you to claim your share of the funds.
It’s incredibly beneficial to have an attorney at your side through this process and to guide you through any additional steps you’ll need to take to get your money. Clear communication is important, especially under circumstances that are going to be emotional for many people, and having expert professionals help you through much of the process can reduce the stress of the situation tremendously.
Get in touch with us now and collect your unclaimed funds!
You deserve caring, compassionate help and knowledgeable representation after such a period of hardship as losing your home, and we’re here to provide that for you. Contact Claim Surplus now for more information about how we can help.
