Foreclosure refunds are cash amounts that homeowners are entitled to receive from their foreclosed property after a foreclosure auction has taken place.

When a property is foreclosed due to an unpaid mortgage loan, the lender puts it up for auction, and it is sold to the highest bidder. The difference between the unpaid balance and the selling price of the foreclosed property is called the foreclosure surplus or foreclosure refund. By law, this amount should be awarded to the property's previous owner.

After completing the sale, state officials usually notify the previous owner about these foreclosure refunds. However, if the owner has moved due to foreclosure or relocated to a different state, they may be unaware that surplus funds are available. This is where the professionals at Overage Recovery Partners can help.

Our team works to discover if there is an unpaid balance in the form of a foreclosure refund waiting to be claimed and takes the necessary steps to recover it for our client.

Although the amount of money after a foreclosure varies, it can be a big help for those who need to pay for rent or a new down payment as they start their lives in a new home. Filing for foreclosure refunds can be complicated due to procedural technicalities, especially when other entities also have claims to the property.

Working with our team allows you to consult with professionals who have a track record in processing surplus fund claims and obtaining foreclosure refunds for our clients.