A House Went Into Foreclosure In 20XX - Can The Funds Be Recovered
Have an attorney check the case to see where the money is at for this point in time. It depends on the state the property is in, but if money is still sitting on a certain level (county, assessor, trustee, etc.) it should be claimable.
Related Articles
Is The Period For Claiming Funds Limited
The time period (time limit) depends on the state. There are some states that allow up to a decade for the funds to be claimed. Most often, these excess funds are with the trustee or court for 12 months and then they go to the state. Check the ...
Can One Quit-Claim Deed The Property After Foreclosure Proceedings
No. Even though the loan was fraudulent and they never lent any money, one cannot transfer property into a trust after foreclosure. No equity = No standing. Once title transfers, the mortgage company has the title to the home and there is nothing ...
After A Mortgage Foreclosure - How Long Are The Excess Funds Available
This depends on the state (see 50 States Guide in Member's Area). Usually excess funds are held with the trustee or court for 12 months and then they go to the state.
Quit Claim Deed into Trust and Tax Implications
What Is a Quit Claim Deed A quit claim deed is a type of deed that transfers ownership of real property from one person to another without any types of warranties. This means that if you receive property via a quit claim deed, you're taking it as it ...
Can Mortgage Payments Be Recovered After X Months / Years
The ability to reclaim the funds paid into the home’s principal balance is possible depending on the escheat laws of the state. All states have a time limit before funds turn back to the state itself and this is covered inside the Foreclosure Secrets ...