The Florida legislature amended Florida Statutes 45.031 and 45.032, regarding foreclosure surplus funds, to put a time limit in claiming foreclosure surplus funds. This was done so that former homeowners, and/or other lien holders, can receive the surplus funds in a timely manner. In fact, the sixty (60) day time limit imposed on subordinate lien holders is put in place so that former homeowners can receive their funds, if applicable, and move on with rebuilding their lives.
So, the question that I receive with each consultation is this: “how long does it take to collect my entitled surplus funds?” Many people are needing that money to invest into a new place to live. Time is of the essence.
Most foreclosure surplus attorneys will tell you that you will have to wait until the end of the (60) sixty-day period before you can even have a shot at collecting. This is not always true. I have, many times, collected surplus funds in just a few weeks after the foreclosure sale took place. There are methods in certain cases that will allow such.
Where I see a lot of people struggle with collecting in a timely manner is when they assign away their rights to a third-party company, or hire a bad foreclosure surplus law firm. For example, I was hired on a case in Hillsborough county a few months ago. The original owner had assigned away her rights to a third-party company. The third-party company failed to file a motion for over 11 months after the sale! This is because asset recovery companies care about volume, that is, getting as many surplus assignments as possible since they can only make a maximum of 12 percent. So, if you are wanting your money fast, (or at all), do not assign away your rights.
If you want to collect your Florida surplus funds as fast as possible, consider hiring a foreclosure surplus lawyer that has extensive experience in not just collecting, but collecting in a timely manner.
If you need a Miami Surplus Lawyer, Ft. Lauderdale Surplus Attorney, West Palm Beach Foreclosure Surplus Lawyer, Orlando Foreclosure Surplus Attorney, Tampa Foreclosure Surplus Lawyer, Fort Myers Surplus Lawyer, Sarasota Foreclosure Surplus Lawyer, Pasco County Surplus Lawyer, Lake County Foreclosure Surplus Lawyer, Lakeland Foreclosure Surplus Lawyer, Lee County Foreclosure Surplus Lawyer, Broward Foreclosure Surplus Lawyer, Miami-Dade Foreclosure Surplus Attorney, or a Jacksonville Foreclosure Surplus Lawyer, the law firm of Haynes & de Paz will represent a homeowner in any county in Florida!