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Disbursement of Florida Foreclosure Surplus Funds: What Can Affect My Claim?

Today, we will discuss two factors that can affect the disbursement of a former Florida Homeowner’s claim for Florida foreclosure surplus funds.

The first and main factor that can affect the disbursement of a former Florida Homeowner’s claim for Florida foreclosure surplus funds is the filing claim of a competing claim from a Subordinate Lienholder. The filing of a competing claim by a Subordinate Lienholder will more than likely trigger the Judge to require what is known as an Evidentiary Hearing. Evidentiary Hearings are used by a Judge in these matters so that they can determine the order, or priority, in which the surplus funds should be disbursed to the Claimants. A Judge’s request for an Evidentiary Hearing often leads to a delay in the disbursement of the surplus funds for all Claimants as the Hearing will need to be scheduled in accordance to the Judge’s calendar. This can range from a few weeks to months depending on the Judge’s court docket. However, should a former Florida Homeowner be represented by an experienced Florida foreclosure surplus funds recovery Attorney said Attorney can often circumvent an Evidentiary Hearing, if required, by coming to an agreement with the Subordinate Lienholder and their Attorney.

Another factor that can affect the disbursement of a former Florida Homeowner’s claim for Florida foreclosure surplus funds is if a Third-Party Purchaser attempts to file a claim to recover a portion, or the entirety, of the surplus funds that are available. Should a Third-Party Purchaser file a claim for Florida foreclosure surplus funds they can slow down the case as if they were a Subordinate Lienholder. Therefore, causing a delay in the disbursement of the former Florida Homeowner’s claim despite there being case law and Florida Statutes preventing a Third-Party Purchaser from claiming or recovering any portion of the Florida foreclosure surplus funds. This is why it is crucial for a former Florida Homeowner to be represented by an Attorney when filing a Homeowners’ claim for Florida foreclosure surplus funds as said Attorney will be able to circumvent this issue, should it arise.

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, then 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.

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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