We ensure homeowners who have gone through a foreclosure or tax deed sale receive the funds they are owed.
Get supportWhat is a surplus fund?
When you lose your home to foreclosure, the house is sold at auction. Often times, the house will sell at auction for more money than you owed on it! This additional money is called “surplus”, and you (or your heirs) are entitled to this money!
At Ideal Wealth Recovery, we fight to get you back that money. Even if you have other debts, or declared bankruptcy, this money is still yours and we will fight for you. We represent your best interests, working on a contingency-only basis; if we are not able to get you back any money then you will not pay us anything at all.
If you’ve received communication from us,
it’s because we can help you.
We likely have found money that belongs to you, but is being held by a government agency. We will recover those funds, at no out-of-pocket expense to you. Our team of experts have identified that you have rights to claim funds as a result of a foreclosure or tax deed sale. Our experts have performed public record searches, skip traces, and court docket reviews to determine this information. This may be a property that you owned, or one that you are an heir to, whether it was your parents, siblings or even distant relatives. We are experts in proving your rights to claim these funds. We have an independent attorney that ensures your case is handled carefully and yields the best possible outcome and gets the courts to disburse the funds to you as soon as possible.
Our Process
Step 1 | Identification of Surplus Funds
After your house or the house of your late relative has gone through an auction sale, any surplus funds or excess proceeds remaining after satisfying the outstanding debts (such as taxes or mortgage payments) are legally due to the previous owner or their heirs.
We receive a comprehensive list directly from the county, which helps us identify individuals entitled to these funds.
This extra money is yours!
Step 2 | Research & Agreement
Once we have identified potential claimants, our dedicated team of researchers and private investigators conducts extensive research to locate the individuals or their heirs. Once located, we reach out and provide a free consultation with an agreement form to initiate the process of reclaiming the surplus funds at no upfront or out-of-pocket cost to you. We work on a contingency basis, meaning that we only charge a fee if we are successful in recovering your surplus funds. The fee is usually a percentage of the recovered amount.
Step 3 | Title Search & Liens Check
To ensure a smooth and successful claim, we perform a thorough title search on the property associated with the surplus funds.
This search helps us identify any outstanding liens or creditors that need to be addressed during the claim process.
Step 4 | Preparation of Legal Documents
Our experienced team takes care of preparing all necessary legal documents required for the claim.
We handle the entire documentation process and bear all legal filing fees, relieving our clients of any financial burdens associated with the claim.
Step 5 | Notarization & Claim Submission
Once the legal documents are prepared, we proceed with getting the documents notarized to validate the claim.
We then submit the claim to the appropriate county or state department on behalf of our clients.
Step 6 | Notices & Motions
Once you’ve signed, we do all the work. Our attorneys draft and file all of the appropriate notices and motions. We coordinate with the attorneys from the other parties involved and set a hearing in front of the judge. Throughout the process, we maintain open communication to keep you informed about the progress and any developments in the case.
Step 7 | Successful Payout
Our dedicated efforts and expertise maximize the chances of a successful payout. Once the surplus funds are disbursed to the rightful owner or heirs, we receive our contingency fee as agreed upon previously.
Save Yourself the Time & Resources by Hiring Us To Help
Thorough Investigations for Maximized Recovery
A dedicated surplus fund recovery company will conduct a comprehensive investigation to ensure that all eligible funds are identified and claimed, maximizing the potential recovery for the client.
Efficient Handling & Streamlined Processes
Engaging a company to manage the surplus fund recovery process streamlines the entire endeavor, eliminating the stress and time-consuming nature of handling the claim independently.
Adherence to Regulations
Professional surplus fund recovery companies are well-versed in the specific laws and regulations governing surplus funds, ensuring all claims are made in full compliance with legal requirements.
Navigating Complex Processes
Claiming surplus funds involves navigating complex legal and administrative processes. A reputable company specializing in surplus fund recovery will have the expertise and experience to handle these intricacies efficiently.
Focus on Core Responsibilities
For individuals such as real estate professionals or heirs who may be entitled to surplus funds, engaging a recovery company allows them to focus on their core responsibilities while the experts handle the claim process.
Avoiding Pitfalls
Claiming surplus funds independently can be rife with potential legal and procedural pitfalls. By partnering with a knowledgeable company, clients can mitigate the risks of overlooking critical details that could jeopardize their claim.
Dedicated Researchers & Private Investigators
Our team of researchers and private investigators who play a crucial role in our success. They employ their expertise to locate individuals who may be entitled to unclaimed funds. Once identified, we reach out to these individuals and explain our process, providing them with the necessary information to initiate their claim.
Direct Lists from Government Agencies
We have established direct connections with treasury departments. We receive updated lists of individuals who are entitled to unclaimed funds directly from government agencies. This enables us to identify potential claimants efficiently and promptly, ensuring that no eligible funds go unnoticed.
Here to Support You Through All the Questions & Pay the Upfront Administrative Fees
What are surplus funds, and who is eligible to claim them after a foreclosure sale?
In the event of a tax deed or mortgage foreclosure. The county holds a foreclosure auction on your property due to unpaid taxes or mortgage. The opening bid at this auction is for the amount of taxes or mortgage that is owed.
What most people do not know is that these properties sell for an amount that is higher than the opening bid and any profit remaining is due to the previous owner.
The county sends out surplus notification letters but most of the time it is to the last address on record so you are never informed.
I have other liens or mortgages on my property, can they claim my funds?
Each case is different based on many factors. Any tax liens will be paid from the surplus from the tax sale. Our team will provide you with a detailed overview of your specific case at no cost to you.
How do state and federal laws impact the recovery process?
These institutions are required to do an annual report to the state’s treasury and after a few years of failed contact they turn these funds over to the state.
What are some common misconceptions about surplus fund recovery?
At first many people are leary or feel this is a scam however there are several Unclaimed State Funds that are forgotten money from individuals or they simply do not know there is money owed to them. When bank accounts, safety deposit boxes, uncashed checks, money order, insurance policies, stock, bonds, mutual funds, trust funds, royalties, and escrow accounts go unclaimed, they end up in the state’s treasury. These institutions are required to do an annual report to the state’s treasury and after a few years of failed contact they turn these funds over to the state.
How much time do I have to collect these funds?
After one year, the funds from your auction sale. They can still be claimed from there but that process is much more complex and takes significantly longer, so we really need to collect them before one year.
How do you ensure cases are handled with care and that their claims are processed accurately and quickly?
We have legal counsel that reviews each case prior to filing and follows the case through to completion. This ensures your case is handled carefully and yields the best possible outcome.
I don’t want the money, what happens if I don’t collect the funds?
The funds will eventually be sent to the state treasury department. If you don’t want the funds, consider using our service to partner with one of our charities, many of which go to help homeowners facing foreclosure, or we can partner with a charity of your choosing and direct the funds to them.
How will I recieve my surplus funds?
We ACH Wire Transfer or overnight you a check.
How long does it typically take for clients to receive their surplus funds, and what factors can affect this timeline?
Every state is different. It could be one month to 5 months depending on the state and the situation. This is why it is important to have a professional who knows the process and can navigate the government agencies.
What legal and administrative hurdles could I face when trying to recover surplus funds?
Working with the government can be time consuming and frustrating. This is why we do the work for you and pay the upfront.
How do unclaimed funds impact individuals and businesses?
Unclaimed State Funds are forgotten money from individuals. Many people have unclaimed funds that are due to them. When bank accounts, safety deposit boxes uncashed checks, Money order, insurance policies, stock, bonds, mutual funds, trust funds, royalties, and escrow accounts go unclaimed, they end up in the state’s treasury. These institutions are required to do an annual report to the state’s treasury and after a few years of failed contact they turn these funds over to the state.
Will I pay anything upfront to claim these funds?
Using our service we will never ask you to pay us a dollar out of your pocket. We will advance all costs and fees in order to process your claim. We only work on a contingency-only basis; if we are not able to get you back any money then you will not pay us anything at all.
This will all be spelled out in your agreement with us.
Having an industry expert on your side can change everything…
The process of claiming surplus funds can be complex and daunting for individuals who are unfamiliar with it. By guiding them through the process and handling the intricate details on their behalf, I can alleviate their stress and provide them with a sense of relief.
Witnessing the joy and gratitude from clients when they receive their rightfully deserved surplus funds is an incredibly rewarding experience. It’s fulfilling to know that my knowledge and expertise in this area can directly benefit others by helping them reclaim what is rightfully theirs.
Furthermore, by facilitating the recovery of surplus funds, I can contribute to alleviating financial burdens and improving the financial circumstances of individuals and families. This has a meaningful and lasting impact on their lives, and knowing that I have played a part in that brings me great satisfaction.
Overall, being able to assist people in claiming their foreclosure and tax deed surplus funds allows me to combine my expertise with the opportunity to make a positive difference in the lives of others, which is why I am passionate about this aspect of my work.
“I love helping people claim their foreclosure and tax deed surplus funds because it allows me the opportunity to make a positive impact in their lives. Many individuals are unaware that they have money waiting for them after a foreclosure or tax deed sale, and being able to assist them in recovering these funds is extremely fulfilling and a true blessing.”
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