Homeowners facing foreclosure may be unaware that they could be entitled to surplus funds after their property is sold. National Equity Agency (NEA) specializes in helping individuals recover these overlooked financial resources, offering a lifeline during challenging times.
When a foreclosed property sells for more than the outstanding mortgage balance, the remaining funds are considered surplus. These excess proceeds can provide crucial financial relief to former homeowners or their heirs. NEA’s expertise lies in identifying, claiming, and expediting the recovery of these funds across various jurisdictions.
In a recent case, NEA successfully assisted the heirs of an estate facing foreclosure. The team navigated complex legal procedures to recover surplus funds, transforming a potentially devastating financial situation into an opportunity for recovery. One estate heir praised the agency, stating, ‘They did everything they said they would. We didn’t need to find lawyers or notaries. They did all the work and my siblings and I received the checks we were promised.’
Surplus funds can emerge when a property sells at auction for more than the total owed debts. For example, a property with a foreclosure judgment of $200,000 that sells for $225,000 would generate $25,000 in surplus funds. These funds can provide critical support for immediate needs such as temporary housing or living expenses.
The process of claiming surplus funds varies by state, with different legal requirements and timelines. NEA’s specialized knowledge helps homeowners understand their eligibility and navigate the complex claim procedures efficiently. The agency focuses on personalized service, transparent communication, and ethical practices to support clients through this challenging process.
Importantly, surplus funds do not always exist in foreclosure sales. They only occur when sale proceeds exceed the total debt owed on the property. However, when these funds are available, NEA’s team is prepared to help homeowners reclaim their rightful resources.
By offering a rapid surplus refund process, NEA aims to empower homeowners and provide a path toward financial stability after foreclosure. The agency’s commitment to client advocacy and proven track record of success offers hope to those navigating the challenging aftermath of property loss.
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