Why a Homeowner Should Hire a Florida Foreclosure Surplus Lawyer

I have represented and helped several homeowners all over Florida fight and collect money with regards to foreclosure surplus funds. No matter how small or large the surplus amount, it is essential that the appropriate information required by law is filed. It is extremely beneficial for homeowners to hire a good Florida foreclosure surplus lawyer to make sure the homeowner’s surplus claim is protected.

Last month, I wrote a blog on third-party businesses, also known as “Foreclosure Asset Recovery” businesses. Many of these companies are extremely shady. Stay away from these Florida foreclosure surplus predators.

Unfortunately, these 3^rd party businesses are not the only parties to be cautious of.

Banks. As if the former homeowner didn’t despise the bank’s lawyer already after their foreclosure judgment. Many of these banks are now trying to illegally obtain surplus funds that belong to the homeowner.

When I use the word “illegal”, I specifically mean some bank lawyers are trying to manipulate the law, and uninformed judges, into giving the banks the surplus proceeds. In fact, I am seeing a consistent pattern lately. Whether or not it is the first mortgage or a subordinate lien holder, the banks are more often trying to intentionally misapply and misstate the law in order to collect more money via surplus funds.

Now, if a subordinate lien holder filed a proper claim for the surplus funds, that lien holder may be legally entitled to the surplus funds before the homeowner. However, when the bank doesn’t practice due diligence, they will sometimes sloppily try to trick the courts.

Over the last month alone, I have encountered actions by both banks as well as other subordinate lienholders, which are downright baffling. For example, I have a foreclosure surplus case in Lake County where the same lawyer for the Plaintiff filed a motion as a Movant to get surplus funds as a superior lien holder. This is outright illegal and misleading on so many levels and in clear violation of the law and ethics of the Florida Bar.

Further examples of bad lawyering include cases where the subordinate lien holder files a surplus claim after the sixty (60) day time limit and misrepresents law to the judge; a second mortgage lien holder recorded a clear satisfaction of their lien, yet still tries to pursue extra surplus funds. I could go on and on.

Having a well prepared and knowledgeable lawyer with specific surplus litigation experience can make all the difference in whether or not you collect the surplus money. I for one take joy and pride in educating the court, fighting against lien holders, and being extremely prepared to aggressively protect and pursue the surplus funds for the former homeowner.