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I’ve Been Notified About Florida Foreclosure Surplus Funds — What Do I Do Now?

If you are reading this, then you may be a former Florida Homeowner who has been notified by a Third-Party Surplus Funds Recovery Company, or Florida Court, that there are surplus funds remaining after the recent Florida foreclosure sale of your Florida Property. However, you may not know who to call or what to do next. In today’s blog, we will discuss who you should call and who you need to avoid.

First and foremost, you’re probably wondering what Florida foreclosure surplus funds even are — please allow me to explain this for you. According to Fla. Statute 45.032(2)(c), foreclosure surplus funds are “the funds remaining after payment of all disbursements required by the final judgment of foreclosure and shown on the certificate of disbursements.”

For example: If a Final Judgment is entered in a Florida foreclosure action 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 the same statute mentioned above, “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 after payment of subordinate lienholders who have timely filed a claim.” Meaning that, you as the former Florida homeowner are entitled to filing a claim for the $50,000 in Surplus Funds that were retained by the Court.

Moreover, receiving the news that there are surplus funds available for you to claim can be a glimmer of hope after having just lost your home, but be warned, if you are contacted by a Third-Party Surplus Funds Recovery Company you should not hire them. Instead, you should consult with an experienced Florida Surplus Funds Recovery Attorney immediately. By consulting with an experienced Florida foreclosure surplus funds recovery Attorney, you will gain valuable knowledge regarding the surplus funds claim filing process. Furthermore, should you decide to hire an Attorney to assist you with the filing of your claim you can ensure that they are acting in your best interests in contrast to a Third-Party surplus funds recovery company. You can be sure that a Florida Attorney will act in your best interests because they are bound by a code of ethics set by the Florida Bar. Therefore, should an Attorney act in bad faith and not in your best interests they can face reprimand from the Florida Bar including, but not limited to, the Attorney’s disbarment, or loss of their license to practice law in Florida.

If you are a former Florida Homeowner and are seeking assistance in the filing of your claim for your 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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