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Florida Foreclosure Surplus Funds: A Dream or Reality?

You are probably reading this because you may have just been notified that there are surplus funds available for you to claim after the recent Florida foreclosure sale of your Florida property. Furthermore, you may be wondering whether the call you received, advising you of the surplus funds, is a scam or if the notice you received from the clerk of court, advising the same, is fake or not. Well, let me tell you that this is likely not a dream. In fact, the reality is that there most likely are surplus funds available for you to claim, especially if you are receiving calls from Third-Party Surplus Funds Recovery Companies. If you have been contacted by a Third-Party Surplus Funds Recovery Company, then I suggest that you DO NOT SIGN ANYTHING and consult with an experienced Florida Foreclosure Surplus Funds Recovery Attorney right away!

Moving on, the reason you are being notified (by the clerk of court) about the surplus funds available to you is due to Florida Statute 45.031(7)(a). Additionally, according to Fla. Statute 45.032(2), “there is established a rebuttable legal presumption that the owner of record on the date of the filing of a lis pendens is the person entitled to surplus funds…” Meaning that you as the former Florida homeowner, at the time the foreclosure action was initiated and at the time the property was sold at foreclosure auction, are legally entitled to filing a claim for the available surplus funds so long as there are no subordinate lienholders who have filed a timely claim.

For example: If a Final Judgment is entered in a Florida foreclosure action in the amount of $100,000 and the property sells at a foreclosure auction for $150,000, then there will be a surplus of funds in the amount of $50,000 retained by the Clerk of Court. If there are no subordinate lienholders, then you will be entitled to the entirety of the surplus funds that are available. However, if there are subordinate lienholders and they have filed a timely claim, then the Judge will require what it is known as an evidentiary hearing to determine the priority, in which, the surplus funds are to be disbursed.

Therefore, if you are reading this as a former Florida Homeowner whose home has recently been sold at a Florida foreclosure auction and would like to know if there are surplus funds available for you to claim, then please give me a call and I will personally give you a free consultation. During our consultation, I will confirm whether there are surplus funds available to be claimed as well as answer any questions that you may have. If there are surplus funds available to be claimed, then I will also provide you with a personalized strategy as to how we can assist you with the filing of your claim.

At Haynes Law Group, P.A., we have experienced Attorneys who are well-versed in the Florida statutes governing former Florida homeowners’ claims to Florida foreclosure surplus funds and have helped to claim hundreds of thousands of dollars for former Florida homeowners. We represent former Homeowners all over the state of Florida no matter which county they are in and will work tirelessly to ensure that you receive the Gold Standard of Legal Service.

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