Unclaimed Foreclosure Surplus Funds Could Be Waiting for You

After a foreclosure sale, if a property sells for more than the mortgage balance and court fees, the remaining amount is considered surplus funds. These funds are often held by the court until claimed — but if no claim is made within a certain timeframe, the money is transferred to the state. Homeowners and heirs are encouraged to check whether surplus funds are owed to them before time runs out.