The federal foreclosure moratoriums have substantially halted foreclosures and foreclosure sales the last 18 months. Specifically in Florida, where foreclosures happen at one of the highest rates in the United States.
While Covid19 has halted foreclosure sales, the moratoriums are officially ending at the end of July, 2021. This means, foreclosures in Florida will begin to rise once again. How does this impact Florida Surplus law? Let me explain.
Interestingly enough, Palm Beach County has already had 133 scheduled sales in the last two days alone. This is a significantly higher amount of auctions than we have seen over the last year and a half. I thoroughly expect these auctions to only grow in volume over the next year. The good news for owners, if your home does get sold, you are very likely to have a surplus of funds due to the current real estate market. Meaning, your property value is high and therefore third party purchasers will pay around the current market value.
Palm Beach County has had a significant amount of surplus funds cases this week. If you are a former owner in Palm Beach with a surplus case, it is important to know your potential rights to the Palm Beach County surplus funds. There are many factors that come into play, such as lien holders, timing and other parties that may claim an interest. (Remember, never assign away your rights to a surplus recovery company!).
I have personally handled hundreds of surplus cases in Palm Beach. As a Palm Beach Surplus lawyer, I have collected hundreds of thousands of dollars for former owners all over the state of Florida.
If you have a surplus case in Palm Beach, call me. I will give you a free consultation. Also, if you do hire me, I only get paid if I win and collect the funds for you!
Call today at 1-888-252-8754.