Frequently Asked Questions

Surplus funds, also known as "overage" or "excess funds," arise when a property sells for more than the amount owed during a foreclosure auction. This can occur in various types of foreclosures, such as association, mortgage, or tax-deed foreclosures. The excess amount, referred to as a "surplus," rightfully belongs to the original homeowner or their heirs.

If you have been identified as the rightful claimant of surplus funds, it is because a property you owned was sold at a foreclosure or tax sale, or because you are an heir to such a property.  When a property sells for more than what is owed, the excess funds belong to the original owner or heirs who are entitled to claim those funds.

 The funds you may be owed can be held by counties, mortgage trustees, or in court and state registries. These overages result from a mortgage foreclosure or a tax-deed foreclosure sale, where the property sold at auction for more than the amount owed. Additionally, unclaimed funds, such as dormant bank accounts or other assets, have been transferred to the state due to being considered abandoned. 

No! If the mortgage wasn't included in the foreclosure case, they can't claim the surplus. Even if they were the plaintiff, they're ineligible to claim it because they were fully paid from the sale proceeds. Their senior lien remains on the property if not named in the foreclosure. The buyer at auction assumes responsibility for the mortgage. Therefore, you're free to have us claim the funds for you.

 Yes, you can try to claim these funds yourself, but it typically requires filing a motion with the court. Hiring an attorney can be expensive, as most charge hourly rates and retainer fees upfront, regardless of the outcome. With SurplusTrak, there are no out-of-pocket costs. We operate on a contingency basis, meaning we only get paid if we recover funds for you. Our attorneys work hard to establish your right to these funds and ensure the court orders their release. If we’re unable to recover anything, our service is completely free! 

Timeframes to release surplus funds vary from county to county and state to state.

Some counties requires a mandatory 60-120 days from time of auction to disperse funds, others may take up to 6 months, every case is different. Actual timeline for surplus fund recovery will vary based on the specific circumstances of your case, the state and the county the property is located in. While some cases may resolve relatively quickly, others may take longer due to legal processes and negotiations. 

The sooner we start working on your case the quicker you will get paid! 

                                      Contact us today to get started.

If you choose to work with us, you won't be required to pay any costs upfront. Nothing out of pocket and absolutely no risk. If we accept your case, SurplusTrak will cover all expenses and fees necessary to process your claim. We will pay for all attorney fees, filling fees, court fees and document preparation costs. Our fee is fully contingent on successfully recovering the funds for you, and this will be clearly outlined in our agreement.

Absolutely!, It is actually advisable and highly recommended to start the process before the foreclosure, that will ensure that the funds will be available for you as soon as the auction ends. You might be entitled to a refund once the auction is complete. If all options are exhausted and you are unable to refinance, we will help you get the process started by gathering the necessary documents. We’ll assist you every step of the way to ensure we recover any funds you’re entitled to after the auction. This could be a significant amount of money, and we want to ensure you receive it promptly.

We do not charge anything upfront. Our fee is contingency based. It is typically a percentage of the recovered amount and varies depending on the difficulty of your individual case and the county you are located in. Our fee will always be much lower than hiring an attorney on your own. All upfront costs and legal fees involved in the recovery process are paid by us and we get reimbursed by the contingency fee collected if your case is successful. There are no out of pocket costs to our clients.

Tax deed sales are property auctions conducted by county in the state to recover unpaid property taxes, interest and penalties. While the mortgage foreclosure sale is  an auction conducted at lender's  or trustee request due to delinquent and unpaid mortgage debt and associated fees related to the property.

It is estimated that more than $60 billion dollars in unclaimed surplus is owed to millions of people like yourself. County and state unclaimed property offices holding this money has limited staff. They can only do limited amount of work. They also get paid the same amount no matter how many people they can find. There is no extra incentive to find you.  As thousands of new accounts are added every week, chances are that the unclaimed property office will never contact you.  That's where we come in, we locate individuals who are owed funds and reunited them with their money.