Foreclosures occur when a homeowner defaults on mortgage payments, prompting the lender to initiate legal proceedings to recover the outstanding loan balance. This process often culminates in the property being sold at a foreclosure auction. It is important to note that many homeowners may be unaware of their potential entitlement to monetary refunds, commonly referred to as foreclosure refunds, subsequent to such an auction.

A foreclosure refund arises when the auction sale price of the foreclosed property exceeds the unpaid loan balance. For example, if a property with an outstanding mortgage balance is sold at auction for an amount greater than the debt owed, the surplus funds constitute the foreclosure refund. By law, this surplus should be disbursed to the most recent owner of the property.

Following the foreclosure auction, state officials typically attempt to notify the former property owner regarding these refunds. However, if the owner has relocated due to the foreclosure or moved to a different jurisdiction, they may not receive this notification and remain unaware of the available surplus funds. This is where the expertise of Alpha One Rescue becomes essential.

Our team is dedicated to identifying foreclosure refund balances that are available for claim. We conduct thorough searches of public records and auction reports to ascertain any surplus funds due to our clients. Once identified, we undertake all necessary actions to file and recover these funds on behalf of our clients, without any upfront costs.

The process of claiming a foreclosure refund can be intricate, involving comprehensive documentation and adherence to stringent procedural requirements. Furthermore, other entities, such as junior lienholders or creditors, may assert claims to the surplus funds, adding to the complexity. This underscores the importance of engaging our experienced team. With a proven track record in processing foreclosure refund claims, we ensure our clients receive their entitled funds in the most efficient and effective manner possible.

By partnering with Alpha One Rescue, you can have confidence that your foreclosure refund claim is managed by capable professionals committed to helping you reclaim what is rightfully yours.