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How to rapidly redact National surplus funds online
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How long do you have to claim surplus funds in California?
How much time do I have to claim surplus funds? Trustees have 30 days from the auction to notify all interested parties (such as second mortgage holders, tax lien holders, or credit card lien holders) of the possible surplus funds via mail.
What is surplus funds mean?
Definition. Surplus Funds is a term used in the Final Accounting process and refers to an amount of loan or grant proceeds in excess of expenditures for the asset purchased (or constructed) with applicable proceeds.
How long do you have to claim surplus funds in Florida?
Generally, any surplus funds from a Tax Deed sale will be held for one year by the clerk of courts, and if not claimed at that time, those surplus funds will be turned over to the Florida Chief Financial Officer and go into the Florida Unclaimed Property funds (and ultimately used for the Florida Schools).
How do surplus funds make money?
Surplus funds after a foreclosure sale are calculated by subtracting the outstanding loan balance from the sales proceeds and then adding any costs the lender had to pay to foreclose on the property. If there are any junior liens, those get paid next. Finally, youll get paid if there are any funds left.
Who does the surplus funds from a foreclosure sale generally belong to?
In most states, a foreclosure ends with a public auction where the property is sold to a new owner. When a foreclosure sale results in excess proceedsmoney over and above whats needed to pay off all the liens on the propertythis surplus money belongs to you (the homeowner), not the lender.
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1 Those excess funds present states with the choice of reducing taxes, increasing program spending, reducing debt, or banking the unexpected resources for later
by EM Engen 2005 Cited by 562 Similarly, a government surplus of 1% of GDP would be expected to decrease interest rates 2.4 basis points. If the increase in federal debt were larger5%
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