Foreclosure Surplus Funds: What They Are & How To Claim Them

Many homeowners use mortgage loans to purchase their homes. If borrowers can’t make their loan payments as promised, the mortgage holder has the right to foreclose on the property, repossess the home, and sell it. If the mortgage holder receives more money from the sale than what the borrower owed on the property, the former property owner is entitled to receive these surplus funds.

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