The bank may owe you money.
If your home sold at auction for more than what you owed on your mortgage, the difference is legally yours. Learn your state's rules and how to claim your surplus funds directly for free.
Select Your State to See Claim Rules
Frequently Asked Questions
What are foreclosure surplus funds?
Foreclosure surplus funds (also known as excess proceeds or overage) are the funds remaining after a foreclosed property is sold at auction for an amount greater than the outstanding mortgage balance and fees. Under the law, these surplus funds belong to the former property owner.
How do I claim my foreclosure surplus funds?
To claim surplus funds, you typically must file a written claim or petition with the court clerk or the foreclosure trustee who conducted the sale. Each state has specific deadlines (ranging from 60 days to 2 years) and forms that must be completed.
Should I hire a recovery agent to get my surplus funds?
In most cases, no. Many third-party recovery agents charge excessive fees (up to 30% to 50%) to file simple paperwork you can submit yourself. Legitimate county clerks and trustees allow you to claim these funds directly for free or for a nominal filing fee.
How long do I have to claim foreclosure surplus funds?
Deadlines vary by state. For example, Florida requires claims to be filed within 60 days of the sale, while California gives claimants 90 days from the date notice is mailed. In states like Texas, you may have up to 2 years before the funds escheat to the state.
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Disclaimer: Foreclosure surplus fund rules are provided for educational purposes only and do not constitute legal or financial advice. Claim deadlines and procedures are subject to change by local municipal courts, trustees, and clerks. Always contact your local county clerk of court or a licensed legal aid attorney to confirm procedures for your specific case.