A foreclosed home is a property that has been taken over by a lender due to non-payment of a mortgage. When a foreclosed home is sold at auction, the proceeds are used to pay off the outstanding mortgage balance, fees, and other expenses. However, in some cases, the home may sell for more than the outstanding balance owed. When this happens, the excess funds are known as overages. The former homeowner may be eligible for a refund of the overages if they can prove their ownership of the property at the time of the sale. This can be a helpful financial boost for the former homeowner who may have lost their home due to financial hardship.