“Lots of fraud.” These are the exact words a Miami-Dade Foreclosure Surplus Judge used referring to surplus recovery funds companies during a hearing two weeks ago. The attorney for the asset recovery company simply stood there without any knowledge of the law. It was actually embarrassing, and I don’t say that lightly.
How does fraud occur with Florida foreclosure surplus recovery companies? Let me explain:
- First, a foreclosure sale occurs in which a surplus recovery employee monitors. They deem a surplus exists (even though one may not).
- Second, they call and/or text message your personal phone. I have to admit, some of these individuals are quite the private investigators. Some will even show up to your door and try to get you to sign something. (DO NOT)
- Some individuals buy their sales pitch and assign away their rights to the surplus funds to the company.
- Next, the surplus company files a Motion to Intervene so that THEY can become a party to the case. That’s right, they will not represent you, they represent themselves. Their own interest. (sidenote: trust me, I have had many court cases where I have to fight off surplus companies in court because they are trying to still take the owners money.)
- In many instances, these companies get the judge to sign an order giving them the funds. Then, they never send the funds to the owner.
Sure, you can get upset. Even call the authorities. But, these surplus companies will often vanish into thin air and just start another company from a different apartment basement.
Be smart. Hire a Florida foreclosure surplus lawyer to represent you in court. We are governed by Florida ethics via the Florida Bar and have standards of professionalism that must be met. Further, a top foreclosure surplus attorney will put you in a much better position in court to win the funds.
Florida foreclosure surplus law is anything but straightforward. This is why I aggressively encourage a former Florida owner to contact a top foreclosure surplus lawyer to give them a free consultation. Every single case is different. Every single case needs its own specific strategy.
Call me today. I will personally answer and give you a free consultation. If you hire me, you don’t have to pay me anything upfront, but only if I win the case and collect the funds for you!
If you need a foreclosure surplus lawyer, Haynes Law Group will represent a homeowner in any county in Florida!