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Florida Foreclosure Surplus Funds: When Will I Get My Money?

In this blog, I will be answering the most popular question that I receive during my consultations with prospective Clients that are looking to file a claim for Florida Foreclosure Surplus Funds. As you may have guessed that question is “When will I get my money?” However, the truth is that the answer to this question is not always that simple as each Florida foreclosure surplus funds case is different. In fact, I will mainly be discussing the main factor that can affect when a former Florida Homeowner (Claimant) should expect to receive their surplus funds disbursement.

The main factor that can affect when a Claimant will receive their Florida foreclosure surplus funds disbursement is if there has been a competing claim filed by a Subordinate Lienholder. According to Fla. Statute 45.032(1)(b), “A ’Subordinate lienholder’ means the holder of a subordinate lien shown on the face of the pleadings as an encumbrance on the property.” As a result of the competing claims, between the Subordinate Lienholder and the former Florida Homeowner, a Florida Judge will more than likely require what is known as an “Evidentiary Hearing”, per Fla. Statute 45.032(9)(b). An Evidentiary Hearing is a hearing that is used by Florida Judges to determine the entitlement between two Claimants’ competing claims for surplus funds. In layman’s terms, Florida Judges use Evidentiary Hearings to determine who is entitled to receive a disbursement of the surplus funds.

If an Evidentiary Hearing is required in your Florida foreclosure surplus funds case, then this can delay the surplus funds disbursement between 3 - 4 weeks and a couple months depending on the Judge’s availability. This is often why I suggest that former Florida Homeowners, who are looking to file a claim for surplus funds, always consult with an experienced Florida Foreclosure Surplus Funds Recovery Attorney. An experienced Florida foreclosure surplus funds Attorney can often circumvent an Evidentiary Hearing and work out a solution with the competing Claimant, or Subordinate Lienholder, to have your Florida foreclosure surplus funds disbursed sooner without the need of said hearing.

Moreover, if there are no competing claims that have been filed, or there are no Subordinate Lienholders, then the claim filing process is alot smoother and the disbursement of the surplus funds is definitively quicker. In this scenario, Claimants can expect to receive their Florida foreclosure surplus funds disbursement within a matter of days or even 1-2 weeks.

If you are reading this as a former Florida Homeowner and are seeking assistance in the filing of your claim for Florida foreclosure surplus funds, please give me a call and I will personally give you a free consultation. During our consultation, I will confirm whether or not 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 will go about the claim filing process and will further advise as to when you can expect to receive your Florida foreclosure surplus funds disbursement.

At Haynes Law Group, P.A., we have experienced Attorneys who are well versed in the Florida statutes governing former Florida Homeowners claims to 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. Best of all, we represent our Clients on contingency which means we don’t get paid unless you do!

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