The Stull Corporation, NEA Helps Another Family In Need

Our team is equipped to tackle the most challenging post-foreclosure scenarios. Work hard, follow up, and complete the task!

MILWAUKEE, WI, UNITED STATES, June 22, 2024 /EINPresswire.com/ -- Surplus funds from foreclosure sales represent a critical opportunity for homeowners to reclaim some equity after their property is sold. These funds arise when the proceeds from the sale exceed all the debts and expenses required to be paid according to the final foreclosure judgment. National Equity Agency (NEA), a professional surplus recovery company, specializes in guiding individuals and organizations through the complex process of recovering surplus funds from property sales, particularly after foreclosures or tax sales.

What Are Surplus Funds?
Surplus funds, often referred to simply as "surplus," are the remaining funds generated from the sale of a foreclosed property when the auction price is higher than the total amount owed on the property. This surplus arises after satisfying all outstanding obligations, including the mortgage balance, taxes, liens, and any foreclosure-related expenses mandated by the court's final judgment. For example, if a property with a foreclosure judgment of $200,000 sells at auction for $225,000, the surplus funds would be $25,000.

The Role of Surplus Funds in Foreclosure Sales
Surplus funds play a pivotal role in the foreclosure process by potentially providing financial relief to former homeowners. These funds are not automatically dispersed; homeowners must proactively claim them through specific legal procedures. NEA specializes in guiding homeowners through this process, ensuring they understand their entitlement and maximizing their recovery.

Who is eligible to claim surplus funds?
Typically, the former homeowner of record at the time of foreclosure and any subordinate lienholders, such as second mortgage holders or judgment creditors, are eligible to claim surplus funds.

How does NEA assist homeowners in recovering surplus funds?
NEA specializes in surplus fund recovery by guiding homeowners through the legal process, from initial assessment to filing claims and ensuring timely disbursement, all without upfront costs to the homeowner.

What steps are involved in claiming surplus funds?
Claiming surplus funds involves identifying eligibility, gathering necessary documentation, filing a claim within specified timelines, and awaiting court approval for disbursement.

Why should homeowners choose NEA for surplus fund recovery?
NEA offers a proven track record of successfully recovering surplus funds nationwide, personalized service tailored to each client's needs, and transparent communication throughout the recovery process.

How Surplus Funds Can Impact Homeowners
For homeowners facing the aftermath of foreclosure, surplus funds offer a chance to recover some of their investment in the property. This additional financial resource can help alleviate post-foreclosure challenges and pave the way for a more stable financial future. NEA's dedicated team provides comprehensive support to homeowners, from initial consultation to claim filing and disbursement, ensuring a streamlined and effective recovery process.

NEA's Expertise in Surplus Fund Recovery
NEA stands out for its commitment to integrity and client advocacy in surplus fund recovery. Represented by Better Business Bureau (BBB), NEA leverages its extensive experience and knowledge of foreclosure laws across various states to secure the maximum funds available to homeowners without upfront costs.

Steps to Claim Surplus Funds
Claiming surplus funds involves several critical steps:

Identification: Determine if surplus funds exist from the foreclosure sale.
Legal Assessment: Understand eligibility criteria and procedural requirements for filing a claim.
Documentation: Gather necessary documents and evidence to support the claim.
Filing: Submit the claim within specified timelines and adhere to procedural guidelines.
Disbursement: Await court approval and the disbursement of surplus funds once all legal obligations are met.

Why Choose NEA for Surplus Fund Recovery?

Homeowners trust NEA for surplus fund recovery due to:
Proven Track Record: NEA has successfully recovered surplus funds for numerous clients nationwide.
Personalized Service: Tailored guidance to meet each client's unique needs and circumstances.
Transparent Process: Clear communication and transparency throughout the recovery process ensure homeowners remain informed at every step.
Enduring foreclosure is a harsh and punishing ordeal. Banks, mortgage servicers, lawyers, and investors often target property owners, with lies and deception being rampant. Recovering from foreclosure is also incredibly challenging; rebuilding credit, relocating, and a lack of cash are common issues that plague the post-foreclosure journey. Getting life back in order and moving on is crucial.

The motto is to work hard, follow up, and complete the task. With nearly six decades of experience in the distressed credit market, National Equity Agency is equipped to handle the toughest post-foreclosure issues for clients. The insight and resources to get the job done are present. In this field, the proof is in the completed work—nothing else matters except exceptional results. Advice and consulting services are unmatched. Guidance has been provided on every imaginable complex credit issue, with great pride taken in supporting the general public and working-class citizens in their credit recovery efforts. A Midwestern-solid work ethic is highly relevant, and "outside the box" problem-solving skills shine as well.

Whether resources to help oneself are needed or more comprehensive assistance, National Equity Agency is designed to guide in the right direction. The firm is passionately committed to helping individuals with debt problems and foreclosure issues, offering expert assistance.

Where did this surplus come from?
A surplus arises when a property is foreclosed upon, and the bank that financed the loan is paid all of the outstanding balance to satisfy their judgment, as well as any other lienholders on the property. As a result, there could be money left over that the property owner is entitled to receive. A surplus occurs when the property sells for more than is owed, and this money is referred to as surplus funds.

Why can’t surplus funds be recovered independently?
In theory, it is possible. However, foreclosure attorneys work for the banks and are notoriously overzealous when filing foreclosure lawsuits, leaving a very tedious and cumbersome process to navigate. They typically inflate the overall summary judgment amounts, which are paid to the bank and miscellaneous creditors. When this happens, it distorts the accounting based on unrelated outstanding liens that may or may not be valid within the foreclosure lawsuit. Navigating these obstacles is very difficult. It is advisable to hire National Equity Agency to maximize the overall return. Collectively, the staff and attorney network have over 100 years of real estate experience. Additionally, clients’ cases are all filed electronically and go directly to the local court Civil Division, ensuring faster response times for the initial appearance and hearing. Depending on the state, there may be no need to take valuable paid time from work, as an attorney will appear on behalf of the client, saving further time and money. Every aspect of automation is utilized to ensure that checks are made payable and delivered much more quickly than industry competitors.

Why didn’t the bank or the County notify about the surplus funds?
After the banks and lienholders collect their portion of the sale proceeds, they have no interest in the remaining surplus; therefore, the surplus funds are kept in the County treasury where the property is located until it is claimed. The county will usually send the previous owners one notice to inform them of the surplus funds available, but that notice gets mailed to the address of the foreclosed property. Unless the homeowner left a forwarding address, they will likely not see the notice. If the County receives no response, the money will remain there for approximately two years, then it would be marked as unclaimed and forfeited by the homeowner. Additionally, the notice that the county sends out often looks similar to a foreclosure notice, and if the homeowner doesn’t read it carefully, they might mistake it for something negative instead of positive.

How is contact information obtained?
National Equity Agency works closely with the county courts for properties that have been foreclosed upon in the states operated in, which are Illinois, Indiana, Ohio, Kentucky, and Texas. Various skip-tracing tools are used to pinpoint valid phone numbers, addresses, etc. The data is gathered from old and recent credit reporting data and other demographics designed to locate individuals. These methods are completely legal and resemble similar methods used by collection agencies. In some cases, family members or close friends who may know how to reach the individual being sought are contacted.

How much does the firm charge?
National Equity Agency charges a nominal service fee, which is only paid after the funds are released by the judge. The firm absorbs all the legal costs, court filing fees, and any registration fees. There are no upfront fees required. Additionally, fees are significantly lower than other firms in the industry.

How long will it take to receive surplus funds?
A very transparent and speedy process is in place. On average, cases are completed in 14 to 21 days depending on the state. However, a partner at National Equity Agency can always be reached for updates via phone or text.
Foreclosure is a deeply challenging experience, often leading to significant financial hardship. However, amidst this difficulty, a hidden source of financial relief might exist: surplus funds.

Understanding Surplus Funds in Foreclosure: What are Surplus Funds?

Surplus funds arise when the proceeds from a foreclosed property's sale exceed the total owed to the lender and all associated fees. By law, these unclaimed funds belong to the former homeowner.
Unfortunately, many homeowners are unaware of their entitlement to surplus funds. Here are some reasons:

1. The Overwhelming Nature of Foreclosure: Foreclosure is a stressful and overwhelming process. The focus is often on saving the home, leaving little room to consider legalities like surplus funds.

2. Complexity of Legal Claims: The legal process surrounding surplus claims can be intricate and confusing. Understanding court procedures, deadlines, and documentation requirements can be a significant obstacle for homeowners.

3. Communication Gaps: Life changes like relocation or lost contact information can make it difficult for courts to locate and notify homeowners about unclaimed surplus funds. This often leads to these funds remaining unclaimed for extended periods.

National Equity Agency: Simplifying Foreclosure Surplus Recovery

Organizations like National Equity Agency (NEA) are dedicated to assisting homeowners in recovering unclaimed foreclosure surpluses. NEA understands the challenges individuals face and is here to simplify the process of recovering surplus funds. Here's how NEA can assist:

1. Identifying Potential Claims: NE has a team of experienced researchers who can analyze foreclosure records and identify potential surplus funds homeowners may be entitled to claim.

2. Navigating Legal Complexities: NEA legal professionals will handle all aspects of the surplus recovery process, ensuring compliance with court procedures and deadlines.

3. Maximizing Recovery: NEA works diligently to ensure homeowners receive the maximum amount of surplus funds they are legally entitled to.

4. Free Consultation and No Upfront Costs: NEA offers free consultations to discuss a homeowner's situation and determine their eligibility for surplus recovery. They also operate on a contingency basis, meaning homeowners only pay if funds are recovered successfully.
Here's a breakdown:

The Foreclosure Process: When mortgage payments are defaulted on, the lender can initiate foreclosure proceedings. This legal process allows the lender to seize and sell the property to recoup their financial losses.

Surplus Funds Explained: During the foreclosure sale, the property is auctioned to the highest bidder. The proceeds from this sale are then used to pay off:

- The outstanding mortgage balance
- Any accrued interest on the loan
- Associated fees like legal costs and property taxes

Surplus Emerges: If the final sale price surpasses the total owed and covers all associated fees, surplus funds remain. These funds rightfully belong to the former
How can assurance be provided that the firm is not a scam?
National Equity Agency is incorporated and in good standing with over 15 years of solid online credentials and client testimonials, with zero complaints. The legal team of attorneys is licensed in their respective states, and the firm is in good standing with the Secretary of State, Dun & Bradstreet, and the Better Business Bureau. Attorney information will be provided upon request and listed on general service agreements, respectively.
About National Equity Agency (NEA)
National Equity Agency specializes in surplus fund recovery for homeowners across the United States. Founded on principles of integrity and client advocacy, NEA has established itself as a trusted partner in navigating the complexities of surplus funds post-foreclosure. With a commitment to ethical practices and client satisfaction, NEA continues to empower homeowners by securing the financial resources they deserve.

NEA's Approach
NEA's approach begins with a thorough assessment of each client's situation to determine eligibility for surplus funds. Using a combination of legal expertise and industry knowledge, NEA navigates the intricacies of surplus fund recovery, ensuring clients receive their entitled funds promptly and efficiently.

"Our team at NEA is dedicated to providing expert guidance and support throughout the surplus fund recovery process," said NEA's legal team. "We take pride in helping homeowners navigate the aftermath of foreclosure and reclaim what is rightfully theirs."

Surplus funds from foreclosure sales represent a critical opportunity for homeowners to recover financially after foreclosure. With NEA's expertise and dedication, homeowners can navigate the surplus fund recovery process confidently, ensuring they receive the maximum funds available to them.

Contact the National Equity Agency (NEA) today to learn more about your entitlement to surplus funds and start your journey toward financial recovery.

Legal Department
National Equity Agency
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