What Happens During and After a Foreclosure

When a Mortgage or Tax Deed foreclosure occur, the county holds an auction to collect what’s due on the outstanding mortgage or tax balances. The opening bid is for the outstanding amount.

Most people don’t realize when the properties sell at a higher amount than the opening bid, whatever profits remain are due to the previous owner(s) or their heirs.

The county sends out notification letters, but they usually go to the previous address (the foreclosed property address) so the rightful owners are never informed.

Our goal is to assist you with the claim – we work directly with the county and legal professionals (legal fees covered by our company) on your behalf.

The Process

Throughout this entire process, there are NO UPFRONT COSTS to our clients. We work on a contingency basis only, so we only get paid after our clients receive their funds.

  • When properties are sold in auctions or tax sales, surplus funds or excess proceeds (after mortgage or taxes are deducted) are legally due to the previous owner or their heirs. Our team conducts audits across the nation, working with counties to find properties with surplus funds…this allows us to locate individuals or their heirs.

  • Once we’ve identified the correct individual(s), we reach out to inform them of the excess proceeds waiting to be claimed.

  • After they’ve agreed to work with our team, we send them a few documents for signatures and notarizations, as well as any legal documents our legal professionals may need to begin their claim. We also dig a bit deeper to identify any outstanding liens or creditors to verify the final surplus amount. This ensures the funds are available for the legal owners or heirs to claim.

  • We submit the claim to the appropriate department on behalf of our clients.

  • The wait time varies from state to state. During this time, we continue to follow-up with the county or state treasury departments to ensure everything is going smoothly. We also keep our clients informed of the status throughout the process.

  • Our dedication and commitment to our clients increases the likelihood of a successful claim and payout. We receive our contingency fee, as previously agreed upon, only after the funds are disbursed to the legal owners or heirs.