During the times of an economic downturn, such as a pandemic, it is important to watch out for fraud. This is especially important if you have lost your home due to foreclosure. You may not know it, but a foreclosure case is public record. Anyone can access those court documents. Once a Certificate of Sale and a Certificate of Title has been issued by the Clerk of Court, they will disburse funds to the lender. If there are any surplus funds, this is listed in the Certificate of Disbursements. This means that you may be eligible to receive Florida Foreclosure Surplus Funds from the foreclosure sale of your home or that of a deceased family member. It also means that many third-party surplus companies know this as well and will be reaching out to try to get you to sign over your rights to them. Some of them resort to fraud to take your money.
Unfortunately, these types of surplus cases are ripe with fraud. Since these cases are public record, many things are part of that public record that you might not consider. For instance, when the original complaint for foreclosure is filed, they also file a copy of the Note and Mortgage you signed to purchase the property. This has your signature and initials contained within it as well as other pertinent information. You must do your due diligence to protect yourself in these matters.
Earlier this month four people were arrested in South Florida on charges of fraud in a scheme to steal the Florida Foreclosure Surplus Funds from elderly former property owners and heirs of deceased property owners. Two of these people were working as a third-party surplus company. The other two, I am sad to say, were attorneys. I only bring this up, dear reader, to point out that as much as I try to warn potential clients away from third-party surplus recovery companies, there are also some attorneys out there who do not follow the law as they should. The two people from the third-party recovery are already spending time in jail on other fraud counts and will likely have more time added. The attorneys will have to deal with hefty fines, jail time and most likely will be disbarred and not be allowed to practice law any longer. It is important to work with someone who is not only well versed in the law but is also of the highest integrity.
It is important to protect yourself from anything like this from happening to you, especially now that we are coming to the end of many of the moratoriums against foreclosures. The Florida State mandated moratoriums have already expired. The Federally backed loan moratorium that stops foreclosures will be ending on December 31, 2020. This means that many people who have been hurt by the pandemic and have not been able to keep up with their mortgage payments will be going into foreclosure. Additionally, you may have lost a family member to the pandemic and they may have had property that is now in foreclosure. Once the foreclosure case has concluded and the property sold at auction, there might be thousands of dollars in Florida Foreclosure Surplus Funds available to you. You need to continue to monitor your case or that of your deceased family member even after the property has gone to sale. Any requests for those Florida Foreclosure Surplus Funds are done through the original foreclosure case.
If you believe you have Florida Foreclosure Surplus Funds available to you from the foreclosure sale or tax deed sale of your property or that of a deceased family member, please give me a call for a free consultation. I can quickly evaluate your case and let you know if those funds are there and what needs to be done to retrieve them from the court. If you have a qualified Florida Foreclosure Surplus attorney already working for you, it will prevent anyone from committing fraud and stealing that money from you. I handle Foreclosure Surplus and Tax Deed Surplus in every County in the State of Florida, and I don’t get paid unless you do.