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Foreclosures happen. Find the money owed to you
Frequently Asked Questions
Please reach out to us at 830.446.2031 if you cannot find an answer to your question.
Surplus funds are the result of foreclosure auctions where you, the homeowner, owe less to the mortgage company than the home is sold for.
For example, you owe the mortgage company $100,000 for your home, The home sells for $150,000 at auction. This sell creates a surplus of $50,000. However, other fees and liens against your home can lessen this amount.
If the money is not claimed by you, within the timeframe set by the state, the money is deposited into the state treasury... never to be seen again,
You, the homeowner, should be notified by the county or state officials regarding these foreclosure refunds 30-45 days after the sale is completed.
In real life, this is easier said than done. Many people move after a foreclosure and the notices are sent to your last known address. This is where Lone Star Overages comes in.
We research foreclosures and liens and identify people who may have monies owed to them.
It depends on the complexity of your case, other liens on your home, and any other creditor that believes they are owed a stake of your equity.
Typically, it takes between 60-120 days to process a claim, once it is submitted. This isn't to say the claim can take longer, or even take less time.
We don't set this schedule, the entity holding your money does. We work as quickly as possible to identify the amount due to you and will notify you when your refund is available.
Lone Star Overages will NEVER ask you for any money up front. We only receive our fee out of your funds, when they are processed. And, at no time do we have your money in our hands.
Our money comes to us form the attorney that was hired to settle your case. They write a check to us for our fees out of your proceeds and then send your money, via check, to you*
*If you prefer we can schedule a time to meet personally and hand you your check in person.
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