Palm Bay, FL – April 2025
What are surplus funds, and why do they matter in Florida foreclosure cases? When a property is sold at auction for more than the amount owed to the lender, the extra proceeds — or surplus funds — are held by the court. These funds belong to the former homeowner, but they must be claimed through a formal legal process.
“Surplus funds are real, recoverable money — but they’re often missed because people simply don’t know they exist,” explained attorney Jasmine Flores.
The process involves submitting a verified claim and waiting for court approval, which can take weeks without proper documentation.
