Frequently Asked Questions
Where are these funds coming from?
Typically when a home is foreclosed upon the home is auctioned off to the highest bidder. In many cases, it sells for more than what is owed and this overage is owed to you. Your local government typically tries to contact you but they only make the bare minimal of attempts which is why so many are unaware that they have funds available and a deadline by which they have to claim it by.
Are you sure you have the right person?
Yes. You have been identified as the appropriate party to claim these funds because property you owned has gone through a foreclosure or tax sale, or because you are an heir to property that has gone through sale.
Who currently has the money?
Typically, the funds we are calling you about are held in the county court registry. They are the result of an association foreclosure, a mortgage foreclosure, or a tax-deed foreclosure sale, where the amount the property sold for at auction is more than the amount it was being foreclosed on for.
But I owed on the home, will the mortgage company come after me for the remainder?
This depends on the location of your foreclosure. In many cases they have already been paid. In others there are a number work around we leverage to help reduce or eliminate that debt. Give us a call to schedule a time to chat with a recovery specialist. 678-459-4095
Can I process this claim myself?
In some cases you can. Things to be aware of is that some locations require a court proceeding which would require a lawyer and the upfront out of pocket cost of a lawyer can be prohibitive for many. Should the case prove more complex than originally expected any additional costs can quickly add up. We had a client attempt to process a claim on their own and the county denied their claim 3 times citing one technicality after another. By the time he returned to enlist our services we had only a day to get everything into the county or his funds would have been considered forfeited forever. Over $1 billion goes unclaimed in this nation every year; our goal is to help reduce that.
With us, we work on contingency, meaning zero out-of-pocket cost for you to get started right away. Schedule a free consult today 678-459-4095.
How much time do I have before my funds expire?
Each state varies. Some places give you 1 year others give your several. Best to chat with a recovery specialist to learn the exact details for your case.
What if I don’t want the funds, what happens?
This is more common than many would expect. Typically the county send the funds over to the state.
One suggestion: We are big on community here at Tower Recovery. We would love to work with you to have these funds donated to the non-profit of your choice. We have several non-profit partners we can recommend if you don’t have a specific organization you want to donate to. In this way, your local community can benefit a bit more directly than solely relying on the state to decide what happens to the funds.
I am on a fixed income, will this affect my eligibility?
Our legal counsel will assess your specific circumstances and advise accordingly beforehand. Give us a call to schedule a consult. 678-459-4095
I I have other liens on the property will that use up all the funds?
This really depends and would need to be assessed on a case by case basis. In some cases we have been able to completed eradicate these liens and in others reduce the amount owed. It’s best to schedule an appointment to speak over the phone with a recovery specialist so we can address your personal situation. 678-459-4095
I don’t see my question.
Shoot us an email at info@towerrecovery.com or call 678-459-4095 we are happy to help!