Understanding What Happens After A Foreclosure
In the event of a Tax Deed or Mortgage foreclosure, the county holds a foreclosure auction on your property due to unpaid taxes or a Mortgage. The opening bid at this auction is the amount of taxes or mortgage owed.
What most people do not know is that these properties sell for more than the opening bid, and any profit remaining is due to the previous owner.
The county sends out surplus notification letters, but most of the time, they go to the last address on record, so you are never informed.
Our job is to step in and assist you in filing this claim. We work directly with the county and can assist you in recovering these funds.
The beauty of working with us is that we charge NO upfront fees and only get paid a finder's fee upon a successful claim, so you bear no risk at all.
Unclaimed State Funds
Unclaimed state funds are forgotten money from individuals. This might sound strange, but many people have unclaimed funds that are due to them. When Bank accounts, safety deposit boxes, uncashed checks, money orders, insurance policies, stocks, bonds, mutual funds, trust funds, royalties, and escrow accounts go unclaimed, they end up in the state’s treasury. These institutions are required to do an annual report to the state’s treasury, and after a few years of failed contact, they turn these funds over to the state.
We work directly with the state and we will assist you in filing the claim to recover these funds.
We charge NO upfront fees and handle all of the filings for you.
Our Process
At Family Equity Recovery Solutions, we handle the entire filing process, including research, documentation, legal fees, and follow-up, allowing our clients to sit back and relax while we navigate the complexities on their behalf. Trust us to help you reclaim your surplus funds efficiently and professionally. Contact us today to start the process of reclaiming what is rightfully yours.
Identification of Surplus Funds:
When a property is sold at auction by the county, any surplus funds or excess proceeds remaining after satisfying the outstanding debts (such as taxes or mortgage payments) are legally due to the previous owner or their heirs. We receive a comprehensive list directly from the county, which helps us identify individuals entitled to these funds.
Research and Agreement:
Once we have identified potential claimants, our dedicated team of researchers and private investigators conducts extensive research to locate the individuals or their heirs. Once located, we reach out and provide them with an agreement form to initiate the process of reclaiming the surplus funds.
Title Search and Liens Check:
To ensure a smooth and successful claim, we perform a thorough title search on the property associated with the surplus funds. This search helps us identify any outstanding liens or creditors that need to be addressed during the claim process.
Verification of Available Funds:
Before proceeding with the claim, we confirm that the surplus funds are available. This step ensures that the funds are accessible to the rightful owner or heirs.
Preparation of Legal Documents:
Our experienced team prepares all necessary legal documents required for the claim. We handle the entire documentation process and bear all legal filing fees, relieving our clients of any financial burdens associated with the claim.
Notarization and Claim Submission:
Once the legal documents are prepared, we proceed with getting the county documents notarized to validate the claim. We then submit the claim to the appropriate county or state treasury department on behalf of our clients.
Ongoing Follow-Up:
After the claim is submitted, we will follow up with the county or state treasury department to ensure that the process is progressing smoothly. We keep our clients informed and updated throughout this stage until a successful payout occurs.
Successful Payout:
Our dedicated efforts and expertise maximize the chances of a successful payout. Once the surplus funds are disbursed to the rightful owner or heirs, we receive our contingency fee as previously agreed.
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