Maybe you have a few questions. That’s okay; most people do.


So here’s a quick collection of some of the questions people ask us along with our answers.


If you still have a question, don’t hesitate to contact us (or book a call with us)

and we’ll be happy to answer it for you.



FREQUENTLY ASKED QUESTIONS

Where are the funds from ?

The funds we are calling you about are held in the county court registry. They are the result of an association foreclosure, a mortgage foreclosure, or a tax-deed foreclosure sale, where the amount the property sold for at auction is more than the amount it was being foreclosed on for. These are called “surplus funds”.

What are surplus funds ?

Surplus funds can also be referred to as an “overage”, or “excess funds”. When a property goes into foreclosure, it sells at auction. The foreclosure may be an association foreclosure, a mortgage foreclosure, or a tax-deed foreclosure for example. In any case, when the property sells, it often times will sell for more than the amount for which it was being foreclosed on. These excess funds are called a “surplus”, and these excess funds belong to the original home-owner, or heirs to the original home-owner!

Why would there be funds owed to me ?

You have been identified as the appropriate party to claim these funds because property you owned has gone through a foreclosure or tax sale, or because you are an heir to the property owner that has gone through a sale.

Who can claim the funds?

Yes it is true that if your home is foreclosed upon due to a trustee and Surplus funds are deposited in the Superior Court, anybody including you can make a claim for the surplus funds. With that said, anybody making a claim would need to file a motion and seek a court order to turnover the funds and explain why they are entitled to the funds. If they cannot provide supporting documentation as to why they should receive the funds, a judge may deny their motion and not sign a court order.

I am not the owner of record, why can I claim the funds?

If you aren’t the owner of record, you’ve been identified as an heir to that person. When someone who owns property passes away, and their property goes through foreclosure, the “heirs” of that person are the rightful party to claim surplus. Sometimes it’s as simple as a spouse’s property, or your parents. However, in the state, if someone dies without a will they died “intestate”, and so there is a predefined set of rules on who are the heirs.


Your account specialist will walk you through how exactly you are entitled to the funds, but rest assured we are experts in this and have identified you as the right party!

Can my mortgage claim my surplus funds or come after me if I claim surplus funds?

The short answer is, No!


If the mortgage was not named in the foreclosure case, they cannot claim surplus. Even if they are the plaintiff, they can’t claim surplus because they were paid in full from the proceeds of the sale. If they are not named, the reason why they cannot claim surplus is that they still have their “senior” lien on the property; they weren’t “foreclosed”. The person who bought it at auction bought the property with that mortgage still on the property, and so that new property owner is now responsible for that mortgage. In other words, you are in the clear to have us claim the funds on your behalf.

Can I collect these funds on my own?

Typically, a motion needs to be filed with the court so that these funds can be collected. In order to do this, you can hire an attorney on your own which is very costly – attorneys typically charge an hourly rate which you will have to pay out-of-pocket, even if they aren’t successful. Alternatively, if you find an attorney that works on contingency, then they will charge a fee as high as 30% or more!

When the claims are more complex in nature, our attorneys need to work diligently to establish you as the rightful recipient of these funds, and to ensure that the court orders a release of these funds by the agency holding them.

By working with Toscani Solutions Asset Recovery Services, all of the attorney’s fees and related expenses are completely covered by us once the funds are paid out. There are zero out-of-pocket expenses that you will incur. And we work strictly on a contingency basis, so we only get paid when/if you get paid! And if we are not able to recover any funds on your behalf, then our services are 100% free of charge!

How much time do I have to collect these funds?

After one year, the funds from your foreclosure sale are sent to the state treasury.

They can still be claimed from there but that process is much more complex and takes significantly longer, so we really

need to collect them before one year.


The biggest problem isn’t the funds being lost to the county or state, but there are people who watch these cases and if someone doesn’t file for the funds within the first few months they will fraudulently try and collect the funds for themselves.

They might even try and sign your name on certain papers in an attempt to claim the funds.


We have worked with homeowners in the past who were victims of fraud and we were able to defeat those fraudulent claims and get the funds disbursed to the homeowners correctly.

Will I pay anything upfront to claim these funds?

If you utilize Toscani Solutions Asset Recovery Services, we will never ask you to pay us a dollar out of your pocket.

We only are paid on the back-end once we have secured the funds on your behalf. This will all be spelled out in your agreement with us.

I don’t want the money, what happens if I don’t collect the funds?

The funds will eventually be sent to the Department of Treasury, but will stay claimable forever, in the state these funds do not “escheat” to the state like other states. If you don’t want the funds, consider using Toscani Solutions to partner with one of our charities, many of which go to help homeowners facing foreclosure, or we can partner with a charity of your choosing and direct the funds to them.

I am on social security, Medicaid, or other fixed income support, can I still claim?

Discuss this with your recovery specialist. if needed, we will retain an attorney on your behalf to ensure your income-based support is not disrupted due to claiming your funds.

My home is selling at an HOA foreclosure, but I have a mortgage on the property. Am I still entitled to surplus funds?

In most cases, your primary mortgage is a superior lien to that of the HOA, meaning that their lien on the property is not extinguished as a result of the home selling due to the HOA foreclosure. By law, the mortgage company would not be entitled to the surplus funds, and they are yours to claim. There are other pertinent details that need to be discussed in these situations and our legal team here at abc company is perfectly equipped to help you through them.

I have other liens or mortgages on my property, can they claim my funds?

The answer is “maybe”! Each case is different based on many factors, including which parties are actually named in the foreclosure suit. Toscani Solutions' team will provide you with a detailed overview of your specific case at no cost to you. In many cases, these other liens and mortgages are not named in the foreclosure suit and therefore aren’t entitled to receive any of the surplus funds that you may be entitled to.