Surplus Foreclosure Funds Lawyers in Tavares, FL
Could you be entitled to money left over after a foreclosure auction in Tavares, FL? When a foreclosed property sells for more than the amount owed on the mortgage, plus court fees and liens, the extra money is referred to as surplus foreclosure funds. These funds could belong to the original homeowner. Neighborhoods such as Lake Elsie Reserve, Etowah, and Royal Harbor may occasionally see competitive auctions that generate surplus funds.
Navigating the process to claim surplus funds can be tricky, but that’s where legal guidance can make all the difference. Haynes Law Group, led by Benjamin C. Haynes, Esq.—a Super Lawyers® "Rising Star"—is here to assist you through the complex process.
Am I Eligible to Claim Surplus Foreclosure Funds?
Eligibility to claim surplus funds generally depends on your legal connection to the foreclosed property. The original homeowner listed on the deed prior to the foreclosure sale usually has the first claim. Additionally, lienholders with a financial interest may sometimes be eligible to apply for these funds if they can confirm their claim.
If you’re uncertain about your eligibility, consulting with lawyers who understand Florida surplus foreclosure fund laws can help determine your rights and what steps must be taken.
Contact us to schedule your consultation and take action to protect your financial rights.
Steps to Recover Surplus Foreclosure Funds
Claiming surplus funds is a process that requires multiple steps and attention to detail. Below is an overview of how this typically works in Tavares:
- Filing a Motion – The process begins with filing a motion in court to notify legal authorities of your intent to claim the surplus funds.
- Submitting Evidence – You will need to provide legal documentation, such as proof of your ownership of the foreclosed property or evidence of lien priority, to demonstrate your right to the funds.
- Court Review and Approval – After the motion is submitted, the court reviews all evidence to approve or deny the release of the funds.
While this may sound straightforward, legal technicalities can complicate the process, especially when multiple parties are involved. Working with a knowledgeable attorney can help ensure your claim is filed properly and on time.
Why You Should Work with a Surplus Funds Lawyer
Attempting to claim surplus foreclosure funds on your own can lead to issues or delays, especially if the required paperwork isn’t submitted or filled out correctly, or disputes arise. Working with attorneys familiar with surplus funds in Tavares ensures you have support if you experience roadblocks or simply need advice.
At Haynes Law Group, we can help you:
- Ensure that all required documents are prepared and submitted correctly.
- Address disputes or challenges from other potential claimants.
- Meet strict court deadlines to safeguard your right to claim.
With founding attorney Haynes and the experienced lawyers at our firm, you’ll have a team deeply attuned to the complexities of Florida foreclosure laws by your side.
Our Clients Share Their Stories
At Haynes Law Group, your satisfaction is our priority! See for yourself what our clients have to say about working with us.
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This firm eased my worries. They stayed on top of everything. Even during COVID. They were extremely patient with me. Kept me in the loop. Explored all my options. Their prompt and detailed service was much appreciated. Their customer service was very kind. Their price for service was reasonable. Loved the payment plan options they provided. Thank you for all you have done for me regarding the foreclosure case. I would recommend them to any and everyoneML
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Very pleasant and honest. Was not the correct specialist for my situation but took his time and provide me with information to seek out an attorney who could help.Chris
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When it seemed hopeless, Lawyer Benjamin Haynes fought and won a $92,873.91 foreclosure surplus for our family! We approached Mr. Haynes after the foreclosure sale on our property. There was a surplus of around $93,000.00 and a second mortgage of around $170,000.00. Therefore, we thought we had no chance to collect the surplus since there was a second mortgage which takes priority over our claim, per Florida law. However, Mr. Haynes took our foreclosure surplus case and started digging very deep! Through Mr. Haynes’ extensive research, he came up with an argument and won in court! The bank didn't know what hit them! We won nearly a $93,000.00 surplus. We received the check in full the next week from the court! If you have a surplus case, you NEED to contact and hire the law firm of Haynes & de Paz. Mr. Haynes will not give up and will work to win you the surplus funds! Now, my wife and I are able to put a down payment on another property. Thank you Mr. Haynes and the law firm Haynes & de Paz!!!!!T.Y.
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Your service and communication are superb, the best by far. It was a real pleasure to work with you and your team to collect my foreclosure surplus funds. Your team is very cordial and communication is truly top notch. Very highly recommended. Thanks again for your prompt service.E.W.
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I went to Haynes Law Group on short notice, literally the day before my foreclosure case. Attorney Haynes worked with me against all odds. They were very honest as to what should be expected. They worked with us allowing us to make affordable weekly payments. They immediately got the foreclosure process halted, and worked diligently in getting the loan modification WE WANTED with even better terms than expected. Always made themselves available throughout the entire process. Thanks to Haynes Law Group we have our home. We thank you.A.R. & J.T.
Could There Be Tax Implications?
It’s important to understand that surplus foreclosure funds might be taxable. While this depends on your specific circumstances, it’s wise to plan ahead for potential federal or state tax liabilities. Your attorney can explain these implications and connect you with financial professionals to help you handle the process responsibly.
How Long Does It Take to Claim Surplus Funds in Tavares?
The timeline for claiming these funds can vary. Once you file your motion, it may take weeks or even months for the court to review and approve your request. Additionally, Florida law imposes strict deadlines for filing surplus funds claims after a foreclosure sale. Acting quickly and working with lawyers familiar with the process can help ensure you meet all necessary deadlines and don’t miss out on what may be owed to you.
Protect Your Rights with Haynes Law Group
If your Tavares property in communities such as Deer Island, Chelsea Oaks, or Vista Del Largo was foreclosed and sold at auction, you might have the right to claim surplus funds. Haynes Law Group is ready to help you handle this legally complex process while ensuring every step is completed promptly and carefully.
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