Coronavirus: How will Covid-19 Impact your Florida Mortgage Payments? Learn More!

Florida Foreclosure Surplus Funds: I’ve Already Hired a Third-Party Surplus Funds Recovery Company — Can I Still Hire an Attorney?

Recently, I’ve been getting several calls from prospective clients who are looking to hire my Firm to assist them with the recovery of their Florida foreclosure surplus funds after they have already hired a Third-Party Surplus Funds Recovery Company. Let it be clear, that you are in your rights to fire and/or hire representation to assist you with the recovery of said funds at any time. However, should the surplus funds already be disbursed to the Surplus Funds Recovery Company, then it will be too late switch to a surplus funds recovery attorney as the funds will have already been disbursed.

Switching from a Third-Party Surplus Funds Recovery Company to a Surplus Funds Recovery Attorney is simple but the recovery of your surplus funds, after the fact, can be quite complex. The reason for this is due to Surplus Funds Recovery Companies having former homeowners sign what is known as an Assignment of Interest. This assignment of interest transfers the former Homeowners’ rights to their surplus funds to the Third-Party Surplus Funds Recovery Company. As such, the newly hired attorney will have to argue as to why the assignment of interest is no longer valid and why the former homeowner(s) still has and/or have a right to said surplus funds. Furthermore, should the Third-Party Surplus Funds Recovery Company have already performed work in the case, then the Court may feel that said surplus funds recovery company is entitled to a portion of the funds that are available. Therefore, the surplus funds recovery attorney will also need to argue as to why the Third-Party Surplus Funds Recovery Company is not entitled to any disbursement, or in the alternative, the attorney will need to come to an agreement with the surplus funds recovery company in an effort to reduce the portion, or disbursement, of the surplus funds that said company receives.

As you can see, switching from a Third-Party Surplus Funds Recovery Company to a Surplus Funds Recovery Attorney to assist you with the recovery of your Florida Surplus Funds is straightforward, however, the actual recovery of the funds can become complex. This is why I always recommend that former Homeowners consult with an experienced foreclosure surplus funds recovery attorney before hiring a Third-Party Surplus Funds Recovery Company. By consulting with an attorney, former homeowners can gain invaluable knowledge as to their rights to said surplus funds and the recovery process.

If you are reading this as a former homeowner who is looking to switch from a Third-Party Surplus Funds Recovery Company to a Surplus Funds Recovery Attorney, then please give me a call as soon as possible and I will personally give you a free consultation. During our consultation, I will provide you with a review of your case as well as answer any questions that you may have. Additionally, I will also provide you with a personalized strategy as to how we can assist you with the recovery of YOUR surplus funds.

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 recover millions 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.

Categories: