Understanding Foreclosure Overage Funds and How to Claim Them

When a property is sold at a foreclosure sale, most people assume the lender takes everything, and the matter ends there. In many cases, that is not entirely true. If the property sells for more than the total amount owed on the mortgage, taxes, and associated costs, the remaining balance is known as foreclosure overage […]

What Happens to Unclaimed Surplus After a Sheriff’s Sale

When a property is sold at a sheriff’s sale, most attention is placed on the debt being satisfied. What many people do not realize is that if the property sells for more than the total amount owed, a surplus may remain. This surplus does not automatically go to the lender. In many cases, it legally […]

How Court Approval Determines the Release of Government-Held Funds

When funds are transferred to government custody following a foreclosure, sheriff’s sale, or similar legal action, they do not automatically return to the person who may be entitled to them. Even if surplus money clearly exists, it cannot simply be requested and issued. In many cases, court approval is required before any release takes place. […]