Coronavirus: How will Covid-19 Impact your Florida Mortgage Payments? Learn More!

Florida Foreclosure Surplus Funds: The Timetable (If You Hire an Experienced Attorney)

Today, we will be discussing what the time looks like when a former Florida homeowner hires an experienced Florida foreclosure surplus funds recovery attorney to assist them with the recovery of their surplus funds after the recent Florida foreclosure sale of their home. As you can imagine, the timetable is different for each case and is largely dependent on whether there are subordinate lienholders in the case. In cases where there are no subordinate lienholders, it can take anywhere from 3-6 weeks after the filing of the claim to receive the surplus funds. I say 3-6 weeks because it may take the clerk of court some time to process and disburse the funds depending on how busy they are and the county they are located in.

In cases where there are subordinate lienholders involved, it can be a little tricky to accurately provide an estimate. The timetable in this scenario depends on whether the subordinate lienholder has filed a timely claim. If a timely claim has been filed by the subordinate lienholder, then the Judge will most likely require what is known as an “Evidentiary Hearing” to determine the priority, in which, the funds are to be disbursed. Should this be your case then it can take anywhere from 3-weeks to one year to receive the surplus funds. The reason for this is due to us needing to abide by the Judge’s availability, or calendar, to schedule the evidentiary hearing should it be required. In some instances, however, I have been able to circumvent the need for an evidentiary hearing by coming to an agreement with the subordinate lienholder’s attorneys. This significantly cuts down the time to receive the surplus funds from the clerk of court, but it is still difficult to provide an accurate timetable as it will depend on the subordinate lienholder’s attorneys’ responsiveness and cooperation.

If a timely claim is not filed by a subordinate lienholder, then we will be sure to advise the Judge of the same in the initial filing of your claim and we will submit an order (along with our filed claim) directly to their chambers for their review. In this scenario, the Judge can either sign the order without the need for an evidentiary hearing, and we will be looking at the same 3-6 week timeline as previously mentioned, or the Judge can deny the order and direct us to schedule an evidentiary hearing.

As you can see, hiring an experienced foreclosure surplus funds recovery attorney can both expedite the time for you to receive your Florida foreclosure surplus funds as well as simplify the process for you. 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.

Categories: