What are Foreclosure Excess Proceeds?
1. Sale Price Exceeds Debts:
When a foreclosed property is sold, the selling price may exceed the total debts associated with the property, including the mortgage balance, interest, legal fees, and other costs. This surplus amount is what we refer to as excess funds.
2. Priority Payments:
The excess funds are distributed in a specific order of priority. First, any outstanding property taxes and liens are paid off. Then, the remaining funds are distributed to various stakeholders, including the homeowner, junior lienholders (e.g., second mortgages or home equity lines of credit), and the foreclosing entity, such as a bank or lending institution.
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3. Former Homeowner's Share:
After all the debts and obligations are satisfied, the former homeowner is entitled to their share of the excess funds. These funds can serve as a financial cushion to help them move forward after the foreclosure process.
4. Junior Lienholders:
If there are multiple liens on the property, junior lienholders receive their share of the excess funds based on their position in the priority order. It's essential to note that the funds may not be enough to fully cover all junior liens, and some lienholders may receive only a fraction of what they are owed.
5. Unclaimed Excess Funds:
In some cases, the former homeowner or junior lienholders may not be aware of their entitlement to excess funds, and the funds can remain unclaimed for a specific period. Each state has its laws and regulations regarding the time frame for claiming excess funds.
Is Your Name on the Excess Proceeds List? Call Us at 866-800-6632 to Claim Your Funds!
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Start by filling out the service agreement in the PDF FILE. Please acknowledge that for Mortgage claims, proof of ID and social security is required.
Know Your Rights
Texas Property Code 51.0075 states that the trustee handling the foreclosure must follow the law when distributing the money from the sale.After the mortgage is paid off, if there's any money leftover - called excess proceeds - that money belongs to the former homeowner. Many people don't know they're entitled to this money. Our team helps you claim what's rightfully yours. Meet the National Overages Finders Alliance team—dedicated professionals with a passion for helping families recover excess funds and stop foreclosure. Our team culture is built on empathy, trust, and a commitment to treating each client like family. With a wide range of expertise in foreclosure consulting, loan services, and real estate, we work tirelessly to guide homeowners through challenging times. Get to know the people behind NOFA and discover how we bring compassion and expertise to every case.
Under Texas Property Code §51.0075, the trustee managing a foreclosure sale is legally required to distribute any remaining funds after paying off the mortgage—these are known as excess proceeds—to the rightful parties, often the former homeowner. Most people don’t realize they may be entitled to this money.
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NOFA is a client-focused real estate support service specializing in surplus funds recovery, foreclosure consulting, and asset protection strategies. We assist heirs, former property owners, and distressed homeowners in navigating complex claims processes with professionalism, integrity, and care. Our services include document preparation, negotiation support, case tracking, and public records research.
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