Last blog in Part 2 of this 3-part series, I elaborated on why a homeowner should hire a Florida Foreclosure Surplus Lawyer over a Surplus Recovery Business. Specifically, when you hire a Foreclosure Surplus Lawyer, that attorney is governed by the Rules of the Florida Bar. To the contrary, when you hire a third-party asset/surplus recovery business, you are NOT hiring a person/entity that is governed by ethical rules. This week, I am going to talk about the intricateness of Florida Foreclosure Surplus Law in Florida, and how choosing the wrong representative can cause a homeowner to lose all their surplus money.
Part 3: The Complexity of Florida Foreclosure Surplus Law
“Just file an affidavit with the court.” This is a quote most homeowners will hear from a Clerk of the Court for whichever county is holding their surplus funds. Even worse, this is exactly what the third party surplus company will do, that is, file a boiler plate motion/affidavit and get paid a % of your funds. While sometimes this may be enough, it is a big risk to take when dealing with Florida foreclosure surplus funds.
The reason assigning your rights is troublesome, is Florida Foreclosure Surplus law is very complex. The homeowner may be entitled to surplus funds per Florida Statute 45.032, but the procedure and substantive law can go much deeper than that. For instance:
- What happens if the funds are claimed too late?
- What happens if another lien holder is trying to claim the funds?
- What if you’re an heir of the estate of a homeowner?
- What if you need the money fast from the court?
- What if I was a half-owner of a property, can I obtain the full amount of funds?
These are all questions that a skilled and experienced Foreclosure surplus funds lawyer should be able to provide answers for. I have handled each one of the above-mentioned examples, and been successful. While I have seen third party companies lose homeowner’s surplus funds due to a lack of knowledge and experience.
Even if there are no hiccups or road bumps in your foreclosure surplus collection, hiring an experienced Florida surplus lawyer is a much safer and smarter way to go.
If you are considering hiring a third-party Florida asset recovery business, or already have assigned your rights away and regret that decision, call my law firm for a free consultation. As a Florida foreclosure surplus attorney, I will be able to sum up your case very efficiently.
If you need a Miami-Dade Foreclosure Surplus Lawyer, Broward Foreclosure Surplus Law firm, Orange County Foreclosure Surplus Lawyer, Hillsborough Foreclosure Surplus Lawyer, Sarasota, Surplus Lawyer, Volusia County Surplus Lawyer, Palm Beach Surplus Lawyer or a Jacksonville Foreclosure Surplus Attorney, the law firm of Haynes & de Paz will represent a homeowner in any county in Florida!