When a property is sold at a foreclosure or tax sale, the sale price may sometimes exceed the total amount owed on the mortgage, taxes, or liens. When this happens, the remaining funds are known as surplus funds or excess proceeds.
In many cases, these funds still legally belong to the former property owner.
However, many individuals are unaware that surplus funds may exist or are unsure how to begin the process of claiming them. Each county or court may have specific procedures for filing a claim and submitting the required documentation.
How Surplus Funds Are Created
Surplus funds may occur when:
- A property sells for more than the mortgage balance
- A tax foreclosure sale exceeds the amount of unpaid taxes
- Additional bidders increase the final auction price
How Russo Asset Recovery Group Can Assist
Russo Asset Recovery Group assists former property owners by:
- Researching public foreclosure and tax sale records
- Identifying potential surplus funds
- Reviewing eligibility requirements
- Assisting with preparation of the necessary claim documentation
Our goal is to provide a professional and confidential process for individuals who may be entitled to these funds but are unsure how to recover them.
Important Notice
Russo Asset Recovery Group is a private asset recovery service and is not affiliated with any government agency or court. We do not provide legal advice. Individuals may choose to consult with a licensed attorney regarding their rights.