FAQ
Your Questions, Our Answers
Explore Common Queries
Foreclosure can be a complicated process, and you likely have questions. This FAQ page is your one-stop shop for clear and concise answers about excess proceeds, a potential source of financial relief after a foreclosure sale. At National Equity Agency (NEA), we understand the challenges you face, and we’re here to help you navigate the process.
Don’t let confusion or a lack of information prevent you from potentially acquiring these funds. Explore the resources below – you might be surprised by what you can learn!
National Equity Agency (NEA) is an organization dedicated to assisting homeowners in recovering surplus funds from foreclosure and tax sales. The agency employs a team of experienced professionals who conduct thorough research, navigate legal processes, and ensure clients receive the funds they are entitled to.
National Equity Agency (NEA) is an organization dedicated to assisting homeowners in recovering surplus funds from foreclosure and tax sales. The agency employs a team of experienced professionals who conduct thorough research, navigate legal processes, and ensure clients receive the funds they are entitled to.
No, National Equity Agency is not a scam. It is a legitimate organization with a track record of helping homeowners recover surplus funds from foreclosure and tax sales. The agency operates on a contingency basis, meaning clients only pay if funds are successfully recovered, which eliminates financial risk for clients.
National Equity Agency may call to inform homeowners about potential surplus funds available from the foreclosure or sale of their property. These calls are part of the agency’s effort to help individuals recover funds that they may not be aware are owed to them.
A sheriff’s sale is a public auction at which property that has been repossessed is sold by court order to compensate unpaid creditors. The proceeds of the auction are used to pay mortgage lenders, banks, tax collectors, and other litigants who have lost money on the property. Generally, a foreclosure auction is held when the property is being sold directly by a bank or other lender who has seized property for non-payment, while a sheriff’s sale is part of a court-ordered process to satisfy legal judgments against the former owner of the property.
No, National Equity Agency is a reputable organization committed to assisting homeowners in reclaiming surplus funds. The agency has numerous positive testimonials and success stories that demonstrate its reliability and effectiveness in recovering funds for clients.
Our fees are typically a percentage of the recovered surplus funds. The specific percentage may vary depending on the complexity of the case and the state’s regulations.
Yes, you can attempt to recover surplus funds independently. However, working with National Equity Agency can be advantageous because we have the expertise and experience to navigate the legal processes efficiently.
National Equity Agency has a high success rate in recovering surplus funds, as reflected in the many positive testimonials from our clients. Our thorough approach and dedication to each case contribute to our strong track record.
To get started, you can contact us through our website or call our toll-free number. We will guide you through the initial steps and evaluate your eligibility for surplus fund recovery.
There are no financial risks involved in using National Equity Agency’s services, as we operate on a contingency basis. This means you only pay if we successfully recover surplus funds for you.
Surplus funds, often referred to simply as “surplus,” are the remaining funds generated from the sale of a foreclosed property when the auction price is higher than the total amount owed on the property. This surplus arises after satisfying all outstanding obligations, including the mortgage balance, taxes, liens, and any foreclosure-related expenses mandated by the court’s final judgment. For example, if a property with a foreclosure judgment of $200,000 sells at auction for $225,000, the surplus funds would be $25,000.
You may be entitled to surplus funds if the sale of your property fetched more money than needed to
satisfy the outstanding debts.
The legal and administrative processes for recovering surplus funds can include filing claims, verifying property records, and navigating court procedures. National Equity Agency handles these complexities on your behalf, leveraging our expertise to streamline the process.
The former property owner is usually entitled to the surplus funds remaining after all debts, including the mortgage and foreclosure costs, are paid off. At NEA, our clients’ successful recoveries showcase our dedication to helping them reclaim what’s rightfully theirs.
Yes, homeowners can claim surplus funds after foreclosure. These funds are the excess money from the sale after all debts are paid. NEA’s mission is to aid homeowners in this process, providing support and expertise every step of the way.
If there are surplus funds from your foreclosure sale, you should contact the entity handling the sale, usually the foreclosure trustee or the court, to claim your funds. NEA’s clients have shared their journeys of financial recovery, highlighting our role in this crucial process.
Surplus funds do not always occur in foreclosure sales. They only exist when the sale proceeds exceed the total amount of debt owed on the property. NEA‘s team is here to help you navigate these situations, as evidenced by the testimonials from homeowners we’ve assisted.
Typically, surplus recovery services like National Equity Agency work on a contingency basis, meaning you only pay a fee if they successfully recover funds for you.
Homeowners trust NEA for surplus fund recovery due to:
Proven Track Record: NEA has successfully recovered surplus funds for numerous clients nationwide.
Personalized Service: Tailored guidance to meet each client’s unique needs and circumstances.
Transparent Process: Clear communication and transparency throughout the recovery process ensure homeowners remain informed at every step.
You may have a legitimate claim to the surplus funds if you have a legal interest in the property, such as a lienholder or heir.
Generally, your mortgage lender cannot claim your surplus funds, and they cannot pursue you for the funds if you rightfully claim them.
Yes, you can attempt to collect surplus funds on your own, but it’s often beneficial to work with a professional service like National Equity Agency for guidance and expertise.
For homeowners facing the aftermath of foreclosure, surplus funds offer a chance to recover some of their investment in the property. This additional financial resource can help alleviate post-foreclosure challenges and pave the way for a more stable financial future. NEA’s dedicated team provides comprehensive support to homeowners, from initial consultation to claim filing and disbursement, ensuring a streamlined and effective recovery process.
Claiming surplus funds involves identifying eligibility, gathering necessary documentation, filing a claim within specified timelines, and awaiting court approval for disbursement.
NEA specializes in surplus fund recovery by guiding homeowners through the legal process, from initial assessment to filing claims and ensuring timely disbursement, all without upfront costs to the homeowner.
Yes, you may still be entitled to surplus funds even if your property is sold in an HOA foreclosure, but it depends on the specific circumstances.
The answer is “maybe”! Each case is different based on many factors, including which parties are named in the foreclosure suit. National Equity Agency’s legal team can provide you with a detailed overview of your specific case at no cost to you. In many cases, other liens and mortgages not named in the foreclosure suit may not be entitled to the surplus funds.
