What Are Surplus Funds After Foreclosure? Millions Left Unclaimed Each Year

Every year, thousands of homes are sold at foreclosure auctions for more than what the homeowner owed. That extra money — known as surplus funds — legally belongs to the former owner or their heirs. Yet millions of dollars go unclaimed annually because most people don’t know these funds exist or how to claim them. Legal experts urge homeowners facing foreclosure to research their rights before walking away from a potential payout.