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Surplus Recovery Agents for Foreclosure Surplus Funds

When a property is going through a foreclosure auction, it is important to know what surplus recovery agents do and how they help you recover excess equity after the property has been sold. Surplus Funds can be claimed by the foreclosed homeowner when excess funds/proceeds are left over after the sale of the property. Any foreclosure resulting in Surplus funds requires those funds to be deposited with the court, and it is the homeowner’s responsibility to claim the equity remaining from the surplus. It’s best to contact a real estate attorney for a more thorough explanation if your home has recently been foreclosed. Here at Global Trustee Settlement Services, we have experienced foreclosure Specialists ready to help you resolve this issue and get the money you’re entitled to.

What are Surplus Funds?

When a foreclosure auction occurs, if the property is sold for more than the amount of any liens owed then this excess amount is what is known as surplus funds. These surplus funds are held for the person who lost the property and can recoup the funds. Unfortunately, some people are not familiar with foreclosure laws and do not realize they are entitled to collect the excess funds.

If you live in Georgia (O.C.G.A. 48-4-5 (b) (2010) Payment of excess states that any surplus fund has to be paid out to the prior owner. Such excess funds shall be distributed by the superior court to the intended parties, including the owner, as their interests appear and in the order of priority in which their interests exist. The cost of litigation of such an interpleader action, including reasonable attorney’s fees, shall be paid from the excess funds upon order of the court. That said, if there is equity on the property then you are entitled to receive Georgia surplus foreclosure funds.  Homeowners are often not informed about the money that is owed and the recovery process which requires those funds to be deposited into the state court if not claimed immediately from the foreclosure trustee.


A surplus recovery agent is someone who will recover the surplus funds that belongs to the prior owner. Sometimes trying to recover this amount can be difficult and surplus recovery agents can help you recover the funds because a recovery agent knows the legal process.

When facing foreclosure, some recovery agents put pressure on homeowners to assign their rights to become the beneficiary of the owner for proceeds from the home that was foreclosed. In some instances, this may be deemed illegitimate, particularly if the agent convinces a person to sign over their rights to the surplus funds with little or no benefit to the homeowner. Homeowners should be aware of any false claims that the homeowner has limited or no rights to the surplus funds, and there is no requirement by law for a surplus recovery agent to recover funds.

Surplus fund fraud does occur and it is the right of the homeowner to collect from the foreclosure trustee in a timely manner. Knowing this, it is best to contact a recovery agent to handle your situation and retrieve the surplus funds on your behalf.

How Surplus Funds Can be Recovered?

Foreclosure sales are usually handled by a trustee. The amount that is paid and sold for the property is documented by the trustee and upon sale the trustee should notify the prior owner of excess funds to be collected after deducting costs and liens. Many property sales are sold for more than the cost of the remaining mortgage, which makes surplus money available for most homes under foreclosure. Many homeowners do not receive notices of surplus funds after the foreclosure sale when the home is vacated and there is no valid forwarding address.

Our recovery agent will gather all your important documents and start the claim process.  To make a request for your excess funds, in most cases, you need to file your claim with a copy of the deed of your prior property, a copy your state-issued ID. Once you have gathered all the necessary documents, we will start the claim process by filling out the required claim form. Once everything is completed, you will need to submit the required documents to the trustee or to the court where the foreclosure occurred and the funds were deposited.

Talk to a Surplus Recovery Agent Regarding Your Surplus Funds

The legal process can be very technical and time-consuming, but the surplus fund recovery agents at Global Trustee Settlement Services help homeowners by making sure that their money ends up in their hands. Prior owners can count on our real estate specialists to fully explain the process and move the process forward and avoid surplus recovery agent fraud. Any foreclosure with equity in the home is worth questioning with a surplus recovery agent. There is no cost in making a claim to see if you qualify and may recover your money after foreclosure.

If you think you may be entitled to receive surplus funds, please call our office at (404) 998-5665 and we will provide a free consultation immediately.

Our Excess Funds Specialists Can Help 

If you were the record owner of property sold at a tax sale or mortgage sale, we may be able to help you recover the money  that is owed to you. 

If there is money that you are legally entitled to, we will help you find it and recover it. 

Call us today at (404) 998-5665 or email us [email protected] for your free consultation. 

What Are Excess Funds From A Foreclosure?

Excess funds are the extra money left over when a foreclosed property is sold at auction for more than the debt owed on it.   

In Georgia, a homeowner may lose their home if they cannot keep up with mortgage payments or they need to pay back taxes owed on their home. 

When this happens, homeowners can lose their homes in a tax sale or a sheriff’s sale, which is a public auction where foreclosed properties are sold to the highest bidder.  

Homes can also be lost in mortgage foreclosure sales. 

Sometimes, a foreclosure sale generates more money than required to pay off the tax lien or mortgage. 

At this point, the county will generally attempt to notify the homeowner of these funds by mailing a notice to the address of the foreclosed home. 

The county may also decide to publish information regarding the foreclosure in a list to make the previous homeowners aware of the money owed to them.

Who Can Claim Excess Funds After A Foreclosure? 

The good news (if there can be good news with regard to a foreclosure), is that the government or lender can only take what it is owed to them in back taxes (and any required fees or penalties, of course). 

Any extra funds from a tax or mortgage foreclosure sale are subject to priority claims. This means that those persons/parties with a superior right may recover the  funds. 

Excess funds in Georgia may be claimed by: 

The previous property owner at the time of the sale 

The record owner of each security deed affecting the property, or Any other party having any recorded equity interest or claim in the property at the time of the sale.