After a tax or mortgage foreclosure sale, surplus funds may remain. If you are entitled to those funds, we can help you understand the process of claiming them.
When a property is sold through foreclosure (tax or mortgage), the sale proceeds go toward satisfying the debt, taxes, costs, and other permitted obligations. If the property sells for more than the total amount owed, a surplus remains.
Depending on the circumstances and applicable state and local laws, that surplus may be available to the former owner or other legally entitled parties.
The foreclosed property is sold at auction or through a foreclosure sale process.
Money from the sale is collected and held by the appropriate authority.
The debt, taxes, foreclosure costs, and other permitted expenses are satisfied first.
If funds remain after all obligations are paid, a surplus may exist to claim.
Foreclosure notifications and sale notices are complex. Property owners dealing with the stress and grief of foreclosure often don't have the clarity or resources to investigate whether surplus funds may be available.
If you experienced a foreclosure and never heard anything about surplus funds, you're not alone. That's why we exist.
Depending on the circumstances and the laws of the state where the property is located, potential claimants may include:
The person or people who owned the property before the foreclosure.
Depending on circumstances, certain heirs or family members may have rights to the funds.
If the owner has passed away, an executor or administrator may represent the estate.
Depending on the situation, other parties may have legal claims to the surplus.
We guide you through understanding whether surplus funds may be available and help you take the appropriate steps to pursue your claim.
We listen to the details of your foreclosure, identify the relevant jurisdiction, and help clarify what information we'll need.
We investigate whether surplus funds may exist and help you understand what the applicable processes and requirements are in your state.
We help you gather the documentation needed and guide you through preparing and submitting your claim to the appropriate authority.
We're here to answer questions and provide guidance as your claim is processed by the relevant government authority.
Foreclosure is already difficult. Navigating the process of claiming surplus funds shouldn't add more confusion and frustration.
Kathleen Leander founded KL Recovery to help people understand whether they may have money available to recover and to guide them through the claim process with clarity and care.
This is a complex area of law and procedure, and requirements vary significantly by location. Kathleen brings experience, professionalism, and genuine commitment to helping you navigate it.
Surplus funds are the money that remains after a foreclosed property is sold and all permitted obligations (the debt, taxes, foreclosure costs, etc.) are satisfied. Depending on your circumstances and applicable law, you may be entitled to claim those funds.
The only way to know is to investigate. We can help you research the sale information, determine if a surplus was generated, and understand the procedure for claiming it in your state.
Depending on your relationship to the original owner and applicable laws, you may be able to claim on behalf of an estate, as an heir, or as another legal representative. We can help you understand whether you may have a claim.
Heirs and estate representatives may be able to claim the funds on behalf of the deceased owner's estate, depending on the circumstances and applicable law. We can help clarify your potential rights.
The timeline depends on many factors, including which state the property is in, whether there are competing claims, and how quickly you can gather the necessary documentation. Generally, the process can take several weeks to several months.
Yes. Deadlines vary significantly by state and sometimes by county. Some states have relatively short deadlines (6 months to a few years), while others have longer periods. This is one of the first things we research for your specific situation.
We work on a contingency basis. You pay a percentage of any funds recovered. We only get paid if you get paid. There are no upfront fees for our consultation or research services. We'll discuss the specific fee percentage and all terms clearly before we begin work on your claim.
No. We cannot guarantee that surplus funds exist, that you are eligible to claim them, or that your claim will be approved. Each situation is different. What we can do is help you investigate thoroughly and guide you through the legitimate process of pursuing your claim.
No. KL Recovery is not a law firm and does not provide legal advice. For questions about your specific legal rights, we recommend consulting with an attorney licensed in your state. We assist with the practical process of researching and filing a claim.
The first step is simply to find out whether surplus funds may be available from your foreclosure. Let's look at your situation together.
Tell us about your foreclosure. We'll investigate what may be available and contact you with next steps.
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Beverly Hills, FL 34465-3226
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