At Financial Recovery Partners, we specialize in providing expert financial guidance and support to businesses, creditors, individuals, and legal professionals facing financial challenges. With a team of seasoned professionals and a commitment to excellence, we empower our clients to navigate the path to financial recovery and success.
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Our team consists of seasoned professionals with extensive experience in financial recovery and management. We have the expertise and knowledge to guide our clients through even the most complex financial challenges.
We provide tailored financial solutions designed to meet the unique needs and objectives of each client. Our personalized approach ensures that our clients receive solutions that are aligned with their specific circumstances and goals.
We are committed to delivering exceptional service and results for our clients. We take pride in upholding the highest standards of professionalism, integrity, and ethical conduct in everything we do.
At Financial Recovery Partners, our clients are our top priority. We prioritize building long-term relationships based on trust, transparency, and mutual respect. Our dedicated team is committed to providing personalized attention and support to each client throughout their financial recovery journey.
Questions and Answers about the Foreclosure Refund Process
What are Excess Proceeds for a Foreclosure Refund?
Simply put, when a property is sold at foreclosure auction,trustee’s sale or sheriff’s sale, the amount of money paid by the winning bidder over and above the outstanding mortgage balance or judgement and other expenses is considered excess proceeds. SIMPLIFIED EXAMPLE: A property with an outstanding mortgage balance of $125,000 sells at trustee sale for $175,000. The winning bid is $50,000 above the mortgage balance, therefore there could be $50,000 excess proceeds from the sale. The actual amount of the excess proceeds is dependent on many things, such as loan position, liens, judgments, expenses, etc. Please note that it is best to speak with us directly regarding the complexities of sheriff sale excess proceeds.
Is the excess proceeds claim process difficult?
The excess proceeds claim process can be difficult and time consuming. The claim process is not as simple as walking into the appropriate government office, showing an ID and getting a check on the spot!
It is beneficial to use a firm like ours that specialize in the excess proceeds claim process. We handle paperwork, filing deadlines, title searches and navigate the complexities and pitfalls of the excess proceeds claim process.
Are there excess proceeds from my foreclosure?
You may have excess proceeds due to you if your property sold at foreclosure auction for more than your mortgage balances.
You may be able to visit the government agency website in your jurisdiction that handles excess funds.
We would be able to determine the possibility of excess funds in your case if you can provide certain information regarding your foreclosure. Please contact us directly.
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