FAQs
FAQ
What are Surplus Funds?
At American Surplus Finder LLC, surplus funds arise when your property is sold at a foreclosure auction for more than what you owe on your mortgage. For example, if you owe $100,000 and your home sells for $150,000, this creates a surplus of $50,000. However, this amount may be reduced by any additional fees or liens against your property.
How are surplus funds/excess funds created?
When a property sells at at foreclosure auction for more than the debt owed, it creates a surplus or equity.
How long does it take to recover the surplus funds I am owed?
The timeline for processing your claim varies based on case complexity, existing liens, and creditor claims. Typically, it takes 60-120 days, depending on the entity holding your funds. We work quickly to identify your surplus and notify you if it’s available sooner.
how do you locate unclaimed funds that belong to individuals?
What is the process for recover these unclaimed funds?
To recover unclaimed funds, submit a claim form with proof of identity and documentation linking you to the funds. After verification, the agency will process your claim, and if approved, you’ll receive the funds directly.
What happens to the money if it isn't claimed in time?
if you don’t claim your surplus funds within the state’s designated timeframe, the funds are transferred to the state treasury, where they are often lost forever and cannot be recovered.
How do I know you aren't a scam?
We never ask for upfront fees; our payment comes directly from your surplus funds through the attorney we hire, ensuring we never handle your money. If preferred, we can meet in person to hand you your check.
About Us
We’re dedicated to helping individuals and families reclaim their rightful funds form tax sale and foreclosures overages.