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Surplus Proceeds From Mortgage Foreclosure Sales

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Helping South Florida Clients Recover Proceeds From Foreclosure Auctions

At Ferrer & Gonzalez, PL, we are knowledgeable of Florida homeowners’ rights, which include the right to any proceeds from a foreclosure auction. If your house sold at auction for more than the lender was owed, then you deserve that surplus. Call our Miami-Dade County real estate attorneys toll free at 888-609-5947 if you have questions about this process or if you would like to seek your rightful proceeds after a condo foreclosure sale.

Surplus Proceeds at Foreclosure Auctions Involving One Lien Holder

If you only have one mortgage on your property, then any proceeds from the sale of your home at a foreclosure sale are rightfully yours. For instance, perhaps you still owe $100,000 on your property. At auction, your home is sold for $125,000. You would be entitled to receive the $25,000 that is surplus.

Unfortunately, there is a specific process that you must follow to obtain any surplus funds. If you do not go through each step in the correct order, the money will most likely stay with the state. To ensure you receive the money that is rightfully yours, contact our South Florida law firm for assistance. We know what steps must be taken and when, and we can often obtain this money quickly.

Surplus Proceeds at Foreclosure Auctions Involving More Than One Lien Holder

On occasion, homeowners have a second mortgage or other lien on their property at the time the first mortgage lender forecloses on their property. If your house is sold at auction, and there are proceeds, it is important to understand that the second lien holder is also entitled to those proceeds. In these situations, you could be facing a legal battle. Do not face it alone.

Contact Our South Florida Real Estate Law Firm

For help obtaining surplus proceeds from your foreclosure auction, call us toll free at 888-609-5947 or e-mail our real estate lawyers. We charge no fee for this service unless we are able to recover your surplus proceeds for you.

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