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Florida Foreclosure Surplus Funds Recovery: Why You Should Hire an Attorney

In today’s blog, we will be discussing why you, as the former Florida Homeowner, should hire an Attorney to assist you with the recovery of your Florida foreclosure surplus funds. If, there are any available to be claimed after the recent Florida foreclosure sale of your Florida property that is.

First and foremost, if you’re reading this and have no clue what Florida Foreclosure Surplus Funds are, then please allow me to give you a quick definition and example of what they are. Florida foreclosure surplus funds are defined by Fla. Statute 45.032(1)(c) as “the funds remaining after payment of all disbursements required by the final judgment of foreclosure and shown on the certificate of disbursements” after the foreclosure sale of a Florida property.

For example: If a Final Judgment is entered in a Florida foreclosure lawsuit 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! Per Fla. Statute 45.032(1)(a) “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…”. Thus, meaning that you, as the former Florida Homeowner, are entitled to these surplus funds.

Moving on, the reason why I say that you should hire an Attorney to assist you with the recovery of your Florida foreclosure surplus funds is because of how complex it can become. Oftentimes, the recovery process is not that easy. There are several issues that can arise that can make the recovery process difficult such as competing claims filed by Subordinate Lienholders, having to go to an Evidentiary Hearing, or even having to wait for an entire year in order to receive your disbursement of the surplus funds. An experienced Florida foreclosure surplus funds recovery Attorney can often circumvent these issues and can obtain the former Homeowner’s disbursement of the surplus funds quicker.

Additionally, by hiring an Attorney you can guarantee that they are acting in your best interests unlike Third-Party Surplus Funds Recovery Companies. If you’ve been contacted by a Third-Party Surplus Funds Recovery Company, then the best thing you can do is to ignore them and not hire them. These companies often mislead former Homeowners and are not licensed to practice law in Florida. Therefore, they are not legally allowed to provide you with legal advice.

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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