Foreclosure Sales

Have you lost your home via Sheriff's Sale? If so, you may have some sales proceeds coming to you that you are unaware of. Don't expect help from the mortgage company or the Court Clerk's Office to collect these proceeds either. The Clerk has a vested interest in keeping you from asking for your money. Here is what I am talking about...

If your home was lost due to a foreclosure, you probably received a notice that the County Sheriff was ordered to sell your property to the highest bidder to satisfy the foreclosure judgment balance (mortgage balance plus costs plus fees). The Sheriff holds these sales monthly, with most counties holding a moratorium on sales during the worst winter months (December-January). Sales are held by auction, with the property being sold to the highest bidder. The sales proceeds are paid out to satisfy the foreclosure judgment and fees first. Usually the bid is lower than the judgment balance. HOWEVER, occasionally the home will be sold for an amount in excess of the judgment and fees. When this happens, the former home owner is entitled to the excess. The excess sales proceeds are paid into the Clerk of the Court. The secret is that you will never be notified if your home sold for more than the judgment balance. It is up to you to check with the clerk after the sale to see if they are holding excess funds. If you do not request the funds within a year, the money is transferred to the state to be used for it's purposes.

If your home was sold at a Sheriff Sale, you should contact the clerks office to see if they are holding funds for you on your case. You will need your foreclosure case number (it will be on the Sheriff's Sale Notice or any of the legal filings on your case). We can assist you in petitioning the court for these funds once you have established that there are funds being held for you. Contact us at 219-942-7580.