Internet Services

Doing The Right Way

How to Claim Your Mortgage Foreclosure Overages and Get the Money You’re Owed

If you’re one of the millions of Americans who have lost their homes to foreclosure in recent years, there’s a good chance that you’re entitled to a foreclosure overage. Foreclosure overages are the extra funds generated by the sale of your foreclosed property that exceed the amount owed on your mortgage. However, many foreclosed homeowners are unaware of this fact and miss out on potentially thousands of dollars in compensation. In this article, we’ll explain what foreclosure overages are, how they occur, and how to claim the money that you’re owed.

What Are Foreclosure Overages?

Foreclosure overages occur when a foreclosed property sells at auction for more than the outstanding balance on the mortgage. For example, if your mortgage balance was $100,000 and your foreclosed property sold for $150,000, there would be a $50,000 foreclosure overage. This money is supposed to be returned to the homeowner, but often goes unclaimed because the homeowner is unaware of their right to the funds.

How Do Foreclosure Overages Occur?

Foreclosure overages can occur for a variety of reasons. In some cases, the property may simply be worth more than the outstanding balance on the mortgage. In other cases, there may be multiple bidders at the foreclosure auction, driving up the sale price. Additionally, some states have laws that require the sale price to exceed the outstanding balance on the mortgage in order to protect the homeowner’s equity. Whatever the reason, if there is a foreclosure overage, the homeowner is entitled to the excess funds.

How Can You Claim Your Foreclosure Overages?

If you believe that you’re entitled to a foreclosure overage, the first step is to check with your state’s unclaimed property office. This office will have a list of all unclaimed foreclosure overages in the state, and you can search the database to see if your name appears. If your name does appear, you will need to file a claim with the office in order to receive your funds.

You can also hire a foreclosure overage recovery specialist to help you claim your funds. These specialists will typically charge a percentage of the recovered funds as their fee, but they can be a valuable resource for homeowners who are unsure of how to navigate the process of claiming their overage.

What Should You Do With Your Foreclosure Overage?

Once you have received your foreclosure overage, you may be wondering what to do with the funds. One option is to use the money to pay off any outstanding debts or bills that were incurred as a result of the foreclosure. This could include credit card debt, medical bills, or utility bills.

Another option is to use the funds to start rebuilding your credit. You could use the money to pay down existing debts, or to create an emergency fund that can help you avoid future financial difficulties. Additionally, you may want to consider investing the funds in a savings account or other investment vehicle that can provide long-term financial benefits.


If you’ve lost your home to foreclosure, it can be a difficult and stressful time. However, by learning about your right to claim a foreclosure overage, you can potentially receive a significant amount of compensation that can help you move forward. Whether you choose to claim your overage on your own or hire a specialist, it’s important to take action as soon as possible to ensure that you receive the funds that you’re owed. By doing so, you can start to rebuild your financial future and move past the difficulties of foreclosure.

The Beginner’s Guide to

A Simple Plan: