What are Real Estate Overages?

Real estate overages are funds that are left over after a property is sold at a foreclosure auction. Overages can occur when the amount of the winning bid at the auction exceeds the amount that was owed on the property, including any unpaid mortgage balances, fees, and other costs.

In some cases, the lender or other parties who are owed money on the property may be entitled to a portion of the overages. However, in many cases, the overages may be claimed by the homeowner or other interested parties, such as the homeowner's heirs.

The process for claiming real estate overages in a foreclosure can vary depending on the specific laws and regulations of the state in which the property is located. In some states, the homeowner or other interested parties must file a claim with the court in order to receive the overages. In other states, the overages may be paid directly to the homeowner or other interested parties. We can certainly help you determine how to file a claim.

It is important for individuals who may be entitled to real estate overages in a foreclosure to understand the laws and regulations of their state and to seek legal advice if necessary. Claiming real estate overages in a foreclosure can be a complex process, and it is important to have a clear understanding of the rights and responsibilities of the parties involved.

In summary, real estate overages are funds that are left over after a property is sold at a foreclosure auction. Overages can occur when the amount of the winning bid at the auction exceeds the amount that was owed on the property. The process for claiming real estate overages in a foreclosure can vary depending on the specific laws and regulations of the state in which the property is located. It is important for individuals who may be entitled to real estate overages in a foreclosure to understand the laws and regulations of their state and to seek legal advice if necessary.

What can we do for you?

We are able to assist you with obtaining your funds due to you with a proven process. All you need to do is click the button below and let us know that you want help.

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