Frequently Asked Questions

When a house is in foreclosure, the government can sell it at auction to recover money owed for back taxes, court fees, and to pay off mortgage companies and tax lien holders. If the sale price exceeds the debts, surplus funds may be available for property owners.

Properties can sell for more than what is owed when the sale price exceeds the amount needed to pay off debts, liens, and foreclosure costs. This results in surplus funds that can be claimed by property owners.

County Asset Recovery Services provides expert guidance, ensuring a seamless and efficient recovery process, maximizing your entitled funds.

Surplus funds, also known as excess proceeds or "overage," are the remaining equity in a property after a foreclosure sale. In Texas, the former owner can petition the county to receive the surplus funds.

To claim excess proceeds, you need to submit a legal claim, often involving complex paperwork and coordination with county officials.

The homeowner has two years from the date of the sale.

The time it takes to receive surplus funds after a foreclosure varies by jurisdiction and circumstances, but it usually takes 30 to 120 days. More complicated claims may take longer, while simpler claims may be resolved faster.