Surplus Funds Attorney

As an attorney at E. Albert Law, I help Georgia residents claim money owed to them after a foreclosure sale of their home at auction.

Surplus funds, also known as excess funds, overages, or excess proceeds, are left over money that may be claimed by a homeowner when a foreclosed property is sold at auction for more than what was owed in mortgage payments or property taxes.

At times, some homeowners are not able to keep up with mortgage payments or pay the back taxes owed on their property.

When this happens, homeowners can lose their homes in what is called a tax sale, sheriff's sale, or a mortgage foreclosure sale, which is a public auction where foreclosed properties are sold to the highest bidder in order to pay off the debt.

Sometimes a foreclosure sale generates more money than required to pay off the debt, resulting in extra proceeds.

Any extra money 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 overage.

This extra money may be claimed by the person who owned the property at the time of the foreclosure sale, the owner of each security deed that affects the property, or any other party that has a lien or recorded equity interest in the property at the time of the sale.

The lender or the county cannot legally keep any overages exceeding what was owed to them unless the overage amount remains unclaimed for a certain amount of time.

Depending on the laws of the state, the previous property owner has anywhere from a few months to a few years to claim the money. However, if it remains unclaimed for too long, the money become the property of the county or the lender.

In Georgia, claimants have up to 5 years after a tax sale to claim overages before the money is paid to the state.

Why work with attorneys instead of companies or a service?

As an attorney, I have experience working with county governments and trustees to process claims in the least amount of time in order to help claimants recover their money as soon as possible.

I have helped Georgia homeowners recover anywhere from $5,000 to $200,000 in mortgage overages and tax overages that rightfully belonged to them after a foreclosure sale.

We work on a contingency fee basis with our clients, so if we are unable to recover money, you do not have to pay.

Call E. Albert Law today at 678-664-4878 or email me at surplusfunds@ealbertlaw.com for your consultation.

Attorney Esther Mesidor

Surplus Funds Recovery Lawyer
E. Albert Law