At the Haynes Law Group, P.A., we not only defend current Florida homeowners facing mortgage foreclosure but also assist former homeowners who wish to file a claim for Florida foreclosure surplus funds.
Former homeowners are often contacted by surplus recovery companies promising to assist with the recovery of these funds. While these companies may appear convenient, retaining an experienced attorney is always the safer and more effective option.
What is a Surplus Recovery Company?
A surplus recovery company is a private business that locates foreclosure cases with surplus funds and solicits former homeowners to sign contracts allowing the company to pursue the funds on their behalf. These companies typically prepare basic filings and submit claims to the court registry.
However, surplus recovery companies are not lawyers of law firms. They are not licensed to practice law, cannot provide legal advice, and cannot advocate for you if disputes arise over lien priority, homestead protections, or competing claims.
In short, they are paid to recover money that already belongs to you—often at a very high cost.
Don’t Sign Away your Rights!
A surplus recovery company makes you sign a contract that assigns your surplus funds to them. These assignments are often irrevocable, which means after you have signed, there is no going back. Further, these contracts are often very aggressive with terms that are not favorable to your position. Often surplus recovery companies are more interested in their profit rather than getting you what you are owed.
Why an Attorney is the Better Option
Surplus fund claims frequently involve legal and factual issues that require professional advocacy, including:
- Competing claims from junior lienholders
- Judgment creditors
- HOA or condominium associations
- Homestead exemption issues
- Probate or estate complications
An attorney can:
- Assert and protect homestead exemptions
- Challenge or defeat improper or inflated junior claims
- File motions and objections when disputes arise
- Appear at surplus fund hearings
- Ensure compliance with Florida statutes and court procedures
Unlike surplus recovery companies, attorneys are legally authorized to litigate disputes and advocate on your behalf when your rights are challenged.
Attorneys Often Cost Less Than Expected
Many former homeowners assume that hiring an attorney will cost as much—or more—than a surplus recovery company. This is often not the case.
When evaluated on a dollar-for-dollar basis, legal representation frequently results in a higher overall recovery and greater protection of your rights.
The Bottom Line
An attorney is better equipped to protect your constitutional rights, navigate Florida foreclosure statutes, and maximize your actual recovery. Attorneys will always fight in your best interest and work towards the best possible outcome for you.
We Are Here to Help
If you have been notified that surplus funds may be available after the foreclosure sale of your property and would like to confirm whether funds exist, please give me a call. I will personally provide a free consultation to determine whether surplus funds can be recovered and answer any questions you may have. If surplus funds are available, I will also offer a personalized strategy outlining how the Haynes Law Group can assist in recovering your Florida foreclosure surplus funds.
At Haynes Law Group, P.A., we are highly experienced in the Florida statutes governing homeowners’ claims for foreclosure surplus funds. We have successfully recovered millions of dollars for former homeowners across Florida and represent clients statewide, regardless of county. Our team is committed to delivering the Gold Standard of Legal Service and working tirelessly to help you recover the funds you may be entitled to receive.