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Florida Foreclosure Surplus Funds: Why Am I Receiving So Many Calls?

Today, we will be discussing why many former Florida homeowners receive an abundance of telephone calls after the recent Florida foreclosure sale of their home. After the Florida foreclosure sale of a Florida property there is a chance that there may be what is known as surplus funds remaining after the sale. According to Florida Statute 45.032(2), “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 as the former Homeowner, or legal titleholder, at the time the Florida property was sold, via foreclosure auction, they are considered the “Owner of Record” and are entitle to a portion or even all of the surplus funds that available.

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!

Now, the reason why you are receiving an abundance of calls is due to there being what are known as “Third-Party Surplus Funds Recovery Companies.” These companies stalk each Florida county’s Clerk of Court foreclosure auction website to find homeowners that may have surplus funds remaining after the foreclosure auction of their home. Once these Third-Party companies find a former homeowner with surplus funds available to be claimed they will begin to aggressively contact the former homeowner in an attempt to get them to hire their company to assist them with the recovery of their surplus funds.

Therefore, I always recommend that if a former homeowner is contacted by a Third-Party surplus funds recovery company that they consult with an experienced Florida foreclosure surplus funds recovery attorney right away. Further, I highly recommend that a former homeowner not sign any documents that are received by a Third-Party surplus funds recovery company until they have consulted with an attorney. It is imperative that you understand your rights when it comes to surplus funds, otherwise, you can risk losing them and they can be difficult to get back.

If you are reading this as a former Florida homeowner whose home has recently been sold at a Florida foreclosure auction and would like more information regarding your surplus funds, then please give me a call and I will personally give you a free consultation. During our consultation, I will confirm whether 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 can assist you with the filing of your claim.

At Haynes Law Group, P.A., we have experienced Attorneys who are well-versed in the Florida statutes governing former Florida homeowners’ claims to Florida 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.

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