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Foreclosure Surplus Funds Recovery

Atlanta Surplus Foreclosure Funds Attorney

If you're one of the many homeowners who has gone through foreclosure, you may be wondering what happens to the leftover money after the sale is finalized. Schuyler Elliott & Associates, Inc. can help you recover those funds. With years of experience practicing foreclosure law in Georgia, we know how to get the most out of the surplus funds available to you after a foreclosure.

Contact us for a free consultation to see how we can help you claim what's rightfully yours.

Recovering Excess Funds from a Foreclosure in Georgia

Foreclosure surplus funds are the proceeds from the sale of a property that was foreclosed on. Also referred to as “excess funds,” these are the funds left over after a mortgage is paid through the final judgement.

Most foreclosures in Georgia are non-judicial in nature, which means lenders do not need to seek court approval to foreclose on a home. Instead, the matters are handled privately and the lender who forecloses on the home is responsible for distributing proceeds from the sale. Typically, excess funds go to the following (in this order):

  • Costs associated with the sale of the home
  • Interest and principal of the secured indebtedness
  • Lienholder(s)
  • Borrower(s)

To claim these funds as the borrower on a property that was foreclosed on, you will need to work with a law firm that practices foreclosure law. An experienced foreclosure lawyer can help you navigate the sale process and ensure that all parties involved receive fair compensation. By working together, you can maximize the value of your foreclosure surplus funds as you work to get back on your feet.

How to Collect on Foreclosure Surplus Funds: Information for Homeowners / Borrowers

It’s common for lienholders and/or banks or government entities to attempt to collect on surplus foreclosure funds that rightfully belong to the homeowner who originally borrowed the money. To avoid this, it’s best to work with an attorney.

When there is a dispute to the surplus foreclosure funds, it can be difficult to determine who is entitled to receive them. This is because a number of parties are often involved, including the homeowner, the lender, and the municipality.

In order to resolve this dispute, you will need to work with a legal team that is well practiced in foreclosure law, like ours at Schuyler Elliott & Associates, Inc. With 25+ years of experience to our name, we are seasoned in the practice of foreclosure law and can help you navigate the sale process to ensure all parties involved receive their fair share of any excess funds from the foreclosure sale.

  • We’re available 24/7 for you
  • We’ve represented thousands of clients throughout the Atlanta area
  • We’ll put more than 2 decades of experience to work on your case

Contact us for help recovering surplus funds after a foreclosure sale in Atlanta. We can be reached at (770) 400-9102.