Unclaimed Funds After Foreclosure: National Equity Agency (NEA) Offers Support in Recovering Excess Proceeds

National Equity Agency is a professional surplus recovery company that specializes in helping individuals and organizations recover surplus funds from property sales, particularly after a foreclosure or tax sale.

Our experienced team works diligently to uncover surplus funds from foreclosures and auctions, recovering thousands for our clients annually.

Our professional post-foreclosure recovery service is here to help homeowners retrieve any surplus funds that are rightfully owed to them following a foreclosure sale.

New Hope for Homeowners: National Equity Agency Streamlines Process for Recovering Excess Foreclosure Funds

WEST PALM BEACH, FL, UNITED STATES, June 18, 2024 /EINPresswire.com/ — Getting Ready for an Indiana Sheriff Sale: NEA’s Role in Excess Proceeds

In Indiana, the sheriff sale process marks a critical juncture for homeowners facing foreclosure, where properties are auctioned to satisfy outstanding debts. Governed by Indiana Code across its 92 counties, this process varies in execution, influencing how sales are conducted and how surplus funds are handled. National Equity Agency (NEA) stands at the forefront, aiding homeowners in reclaiming their rightful excess proceeds from these sales.

Understanding the Sheriff Sale Process in Indiana

Under Indiana Code § 32-29-7-3, sheriff sales can occur at the sheriff’s office or other locations that encourage competitive bidding. The procedures differ among counties, some allowing written or online bids, which adds complexity to an already intricate process.

Following a successful auction, the sheriff is required to deliver a deed to the buyer and record it with the county recorder, officially transferring ownership.

Buyer Responsibilities and Risks

Buyers at sheriff sales acquire properties “as is,” necessitating thorough due diligence beforehand. Prospective buyers must research property values, inspect exteriors, and evaluate potential zoning or housing code restrictions. It’s crucial to investigate outstanding liens or mortgages to understand the property’s true value and potential encumbrances.

NEA’s Commitment to Homeowners

Getting Calls From NEA or (765) 896-5281? Learn NEA’s Role in Excess Proceeds: Discover Why Homeowners Trust Us

NEA goes beyond navigating legal complexities; they cover all costs associated with the recovery process and operate on a contingency basis. Clients pay nothing upfront, and NEA only collects a professional fee from the recovered funds upon successful recovery.

“Our mission at NEA is to connect homeowners with their rightful funds,” concluded the spokesperson. “Whether it’s understanding the sheriff sale process or handling legal intricacies, NEA is dedicated to providing clarity, support, and results.”

What are Surplus Funds?

Surplus funds may arise when a property sells at a foreclosure auction for more than what is owed on the lien that led to foreclosure. For example, if a property had a $100,000 lien and sold for $150,000, the $50,000 surplus (after accounting for junior lienholders’ interests) belongs to the original owner. Surplus funds are the remaining proceeds from a property sale after all debts, including the mortgage and foreclosure expenses, have been paid off.

Testimonials Speak Louder Than Words

Skyler Lockwood: “Great experience… Much appreciated.”

Eric Hayes: “Thanks, great people to work with.”

Mario Arellano: “Very reliable and honest.”

These testimonials underscore NEA’s commitment to professionalism, integrity, and client satisfaction throughout the surplus funds recovery process.

The Sheriff Sale Day in Detail

On the day of a sheriff sale, Indiana law mandates strict advertising requirements to notify the public. According to Indiana Code § 32-29-7-3, the sheriff must advertise the sale in a local newspaper once a week for three consecutive weeks before the auction date. The first advertisement must appear at least thirty days before the sale date. Additionally, the sheriff must post notices at the courthouse door and provide a copy to each owner of the real estate.

Sheriff sales typically involve competitive bidding, either in person at the sheriff’s office or through written or online platforms, depending on the county’s procedures. The highest bidder secures the property, and the proceeds from the sale are applied to satisfy the judgment amount, including outstanding loan balances, unpaid interest, fees, and litigation costs.

Buyer’s Responsibilities Post-Sale

Once a buyer successfully bids at a sheriff sale, they assume ownership of the property in its current condition (“as is”). Prior to bidding, potential buyers should conduct thorough research. This includes assessing property values in the area, physically inspecting the property from the exterior, and identifying any potential zoning restrictions or housing code violations. Understanding these factors helps buyers gauge the property’s investment potential and assess any required repairs or renovations.

Moreover, buyers must investigate the property’s title history to uncover any outstanding liens, mortgages, or other claims that may affect the property’s value.

NEA’s Role in Surplus Funds Recovery

NEA specializes in assisting homeowners or heirs in reclaiming surplus funds generated from sheriff sales. Upon identifying potential surplus funds due to the homeowner after the sale, NEA initiates a comprehensive process to secure these funds on behalf of their clients.

Step-by-Step Process with NEA

Identification and Consultation: NEA identifies potential surplus funds and contacts the rightful homeowners or heirs. They offer a complimentary consultation to discuss the surplus funds recovery process.

Authorization and Claim Form: After consultation, homeowners authorize NEA to represent them in the surplus funds recovery process by signing a simple, one-page claim form. There are no upfront costs or fees for this authorization.

Legal Proceedings: NEA’s experienced legal team handles all aspects of the legal process, including drafting and submitting necessary notices and motions. They collaborate with attorneys representing other parties involved in the sheriff sale and schedule hearings when required.

Court Approval and Distribution: Upon court approval, the County Clerk of Courts disburses the entitled surplus funds to NEA’s clients. NEA ensures a streamlined process, aiming for clients to receive their funds within 60 to 90 days after the sheriff sale.

Client Satisfaction: NEA prioritizes client satisfaction throughout the surplus funds recovery process. Their dedication to transparency, professionalism, and effective communication ensures homeowners or heirs understand each step of the process and feel confident in NEA’s representation.

NEA’s Commitment to Excellence

Is NEA legit?

With a stellar reputation and a 4.9-star rating based on 71 reviews, NEA exemplifies excellence in surplus funds recovery.

Conclusion

As NEA continues to expand its presence across Indiana, their commitment to advocating for homeowners’ financial interests remains steadfast. By navigating the complexities of the sheriff sale process and providing expert guidance in surplus funds recovery, NEA empowers homeowners to reclaim what is rightfully theirs. For more information on how NEA can assist in surplus funds recovery or to schedule a consultation, visit their website or contact NEA directly.

Legal Department
National Equity Agency
+1 765-896-5281
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Originally published at https://www.einpresswire.com/article/720773841/unclaimed-funds-after-foreclosure-national-equity-agency-nea-offers-support-in-recovering-excess-proceeds
Images courtesy of https://pixabay.com

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