Surplus Recovery FAQ's

Question 1

What are surplus funds?

Accepted Answer

Surplus funds are the excess money remaining after a foreclosure auction sale pays off the mortgage and other liens on a property. If your home sold at auction for more than what was owed, the difference legally belongs to you as the former homeowner.

Question 2

How do I know if I have surplus funds?

Accepted Answer

Surplus Refund Corporation's licensed agents can research your foreclosure case and determine whether surplus funds exist and are available to you. Contact us today for a free review.

Question 3

How much does it cost to use Surplus Refund Corporation?

Accepted Answer

There are never any out-of-pocket or upfront costs. Surplus Refund Corporation works on a contingency basis — we are only paid when we successfully recover funds for you. All attorney fees and expenses are included in our percentage or flat rate.

Question 4

What if I have other mortgages or liens on the property?

Accepted Answer

Surplus Refunds are available even when there are additional mortgages or other liens on the property. Our licensed agents are experienced in navigating these situations.

Question 5

What if SRC cannot recover any funds for me?

Accepted Answer

In the event Surplus Refund Corporation's Counsel is unable to obtain any surplus funds, you will pay nothing. Our contingency model means zero financial risk to you.

Question 6

Is Surplus Refund Corporation licensed?

Accepted Answer

Yes. Surplus Refund Corporation is a licensed and insured Private Investigator Agency by The Florida Department of Agriculture and Consumer Services. Florida law requires companies that locate and recover surplus funds to hold this license. You can verify our credentials on the Verify SRC page.

Question 7

How long does the process take?

Accepted Answer

The timeline varies depending on the complexity of the case and the court's schedule. Surplus Refund Corporation provides the best and fastest pay-out to you. Our agents will keep you informed throughout the entire process.

Question 8

Which Florida counties do you serve?

Accepted Answer

Surplus Refund Corporation serves former homeowners throughout all 67 Florida counties.

Question 9

Why do I need a licensed company to recover my surplus funds?

Accepted Answer

Florida law requires companies that locate and recover surplus funds on behalf of former homeowners to be licensed P.I. Agencies. Working with an unlicensed company puts you at risk. You can learn more at the Florida Department of Agriculture and Consumer Services website.

Question 10

What should I look for before signing an agreement with any surplus recovery company?

Accepted Answer

Ask whether the contract charges attorney fees and expenses on top of the percentage or flat rate. Ask how much those fees are. Get all your questions answered in writing. Surplus Refund Corporation always includes attorney fees and expenses in our percentage or flat rate — no hidden costs.

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