What Are Foreclosure Refunds?

Foreclosure refunds in the US refer to the excess funds left over after a foreclosed property has been sold at auction. These funds are typically returned to the former homeowner, but lienholders, such as mortgage companies or other creditors, can also claim them.

Foreclosure refunds can occur when the auction sale price of the property exceeds the outstanding balance on the mortgage or other liens.

It’s important to note that foreclosure laws and refund procedures can vary by state, so homeowners and lienholders should consult a legal professional for guidance on claiming any potential refunds.

Why Availing Foreclosure Refunds Are Difficult

For several reasons, it can be difficult for homeowners to avail of foreclosure refunds in the US. First, many homeowners may not know they are entitled to a refund, especially if they have already moved out of the foreclosed property.

Additionally, the process for claiming a foreclosure refund can be complex and involve legal procedures that can be difficult for homeowners to navigate independently. Furthermore, there may be competing claims for the excess funds, such as from lienholders or other creditors, which can further complicate the process.

Finally, the timeline for claiming a foreclosure refund can be limited, meaning homeowners may need to act quickly to ensure they receive the funds they are entitled to.

Let County Asset Recovery To Claim Your Money!

County Asset Recovery is your partner in claiming your money from the surplus of the auction sale. Our team is on top of the developments in Arkansas related to tax sales and foreclosures. Once a property is auctioned, we track and connect with the former owners to help them claim surplus funds.

We do not charge any fee for our services. So, what are you waiting for? Give us a call now, and let’s get started!