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To recover surplus money from a foreclosure sale, claimants must act quickly. There will be a limited window for you to recover the funds. You'll also need to provide proof of prior ownership to the trustee or the court. You may also have to complete and submit a claim form and/or attend a court hearing.
Surplus funds are the monies remaining after the foreclosure sale takes place and mortgage, tax and other legal obligations have been paid. Homeowners in foreclosure can claim surplus funds by filing a simple form available from the Superior Court Trust Fund Unit and after paying nominal fees totaling less than $100.
To recover surplus money from a foreclosure sale, claimants must act quickly. There will be a limited window for you to recover the funds. You'll also need to provide proof of prior ownership to the trustee or the court. You may also have to complete and submit a claim form and/or attend a court hearing.
Surplus funds, also referred to as overage or excess funds, are the funds remaining after a mortgage is paid through the final judgment of a foreclosure auction. The trustee appointed in the foreclosure auction is responsible for disbursing the funds without charging additional fees.
Once the lienor or foreclosed owner learns that there is a surplus, either one can make claim to the funds. In a surplus money proceeding, the court requires that a title report be submitted for purposes of disclosing what liens are against the foreclosed property.
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How to Claim Surplus Funds From a Foreclosure in Florida Provide Proof of Ownership. This step of the process is usually satisfied by providing a copy of the title that shows that you owned the property last. ... Verification of Surplus Funds. ... Reach out to Trustee. ... Submit a Claim For the Surplus Funds. ... Hearings and Motions.
Surplus Funds are proceeds generated from the sale of your home at a sheriff's sale*. If your home is sold for more than what you owe on your mortgage and for taxes, you may be entitled to Surplus Funds, which in some cases could total thousands of dollars.
In order to claim surplus funds, one has to file a Petition for Surplus Funds, explaining (or proving) to the court how you are entitled to those funds. Unfortunately, there are no published court forms available for this process in the State of North Carolina.

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