F A Qs

Question 1

What are surplus funds?

Surplus funds are the remaining funds that may exist when a property is sold at foreclosure or tax sale for more than the amount owed on the mortgage, taxes, and associated costs. These remaining funds may be held by a county, court, or other agency until they are claimed by the rightful party.

Question 2

Who may be eligible to claim surplus funds?

Eligibility can vary depending on the situation, but surplus funds are often associated with the former property owner or other parties who may have had a legal interest in the property. Each claim is evaluated based on the applicable records and documentation.

Question 3

How do I know if funds may be available?

Determining whether surplus funds may exist typically requires reviewing public records related to the property and the sale. Submitting an inquiry allows Cooper Recovery Services to begin reviewing available records to determine whether funds may exist.

Question 4

Is there a cost to inquire about surplus funds?

There is no cost to submit an inquiry regarding potential surplus funds. Additional steps may require documentation and verification depending on the situation.

Question 5

How long does the process take?

The timeline can vary depending on the agency responsible for holding the funds and the documentation required to process a claim. Some claims may take several weeks or longer depending on the circumstances.

Question 6

What information will I need to provide?

Typical information requested may include:

• property address
• contact information
• documentation verifying interest in the property

Additional documentation may be required depending on the specific claim.

Question 7

Does submitting the form create an agreement?

Submitting an inquiry through the website does not create a contractual agreement. Additional information and documentation may be required before any claim assistance services are provided.