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  1. #1
    Ladynred is offline Senior Member
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    Claiming surplus funds following foreclosure

    Hi, TN here.

    I'm not sure if this is the correct place to ask this question, but here goes anyway.

    I had a home in S.C. that was foreclosed by the primary lender and sold in December 2001. The house had a 2nd mortgage against it (and it seems that bank didn't make much of an effort to get anything from the sale).

    I have received a notice that there were 'surplus funds' and that I may make a claim for these funds (not that I really expect to get them, but what the heck). I don't have a lawyer (recently laid-off and can't afford one) and the letter from the court that explains how I can claim the funds has left me with questions.

    According to the letter from the court, I need only write a letter (it states no forms required). The phrase that I need a bit of clarification on is as follows:

    "Claim must be verified or supported by Affidavit, norarized, and filed with the Equity Court within 45 days of the Order confirming the sale".

    Ok.. so, what exactly must I do here ? What sort of verification and/or affidavit to I need to provide ? Finding a notary is easy. I have to get this to the Equity Court by the 22nd of March.


    Thanks !
  2. #2
    HomeGuru is offline Senior Member
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    Contact the foreclosure Trustee and the Court. If the 2nd was paid off and there is still an overage, you must get it back as it is your money.
  3. #3
    Ladynred is offline Senior Member
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    The 2nd has NOT been paid off.. that account went to collections a long time ago.. and now their lawyer.. so a judgement is pretty much inevitable.

    Like I said, I don't realistically expect to get this money, but I'm going to put my 2 cents in anyway ! I just need to know, legally, what they want and how I write my letter.


    Thanks!
  4. #4
    HomeGuru is offline Senior Member
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    Good luck to you. You need to find out what the property sold for and compare with all the debts.
  5. #5
    Ladynred is offline Senior Member
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    I know exactly what it sold for, as that is in the sale order that came with this letter for claiming the funds. I have received a 1099-A form as well.

    I realize my chances of getting this money are slim to none, but they're giving me the chance to claim it and I'm going to do so, got nothing to lose....

    I just need to know what kind of affidavit, etc. I need to get this claim filed with the court.

    Thanks
  6. #6
    HomeGuru is offline Senior Member
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    Read my post. I already advised you to contact the Court.
  7. #7
    Ladynred is offline Senior Member
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    minor update

    I just wanted to say that I did call the court. All I needed to do was to have my signature notarized. The letter from the court specified everything else that I needed to put in my letter/claim, guess that qualified it as an Affidavit. I fed-ex'd the claim yesterday, deadline is Friday. It'll be very interesting to see what comes out of this.
  8. #8
    HomeGuru is offline Senior Member
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    Keep us posted.

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