State Unclaimed Money

Published: 08th October 2009
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Work at Home Business through Unclaimed Money. Foreclosure Sales create Surplus Funds - that you can claim yourself!!

This unclaimed money comes from tax lien or foreclosure sales.

This State Unclaimed Money originates from a substitute trustee foreclosure or auction from a tax lien, a foreclosure from:foreclosure as a result of a HOA foreclosure, etc.

The issue that occurs for the foreclosing entity is that the home can get MORE than the amount that needs to be paid off.

Example given, assume a mortgage company forecloses on Joe Smith. He is in debt for $200,000 to the mortgage co and his property sells through foreclosure for $250,000. So where does the money end up?

The mortgage co - or usually the trustee for the bank - pays out the debt owed on the real estate, with the tax man - meaning any unpaid property taxes, getting paid before others in line. After that the mortgage co has a right to the remainder. But, the bank can't keep any excess. Let's say there were $5,000 in attorney costs as a result of the foreclosure sale, {and|&) that there were still owed taxes to be paid in the amount of 5 grand.
That means:
$250K sales price
-Five thousand $ paid to the municipality for unpaid taxes.
-Five thousand $ paid to attorney's in charge of the foreclosure auction.
-two hundred thousand paid to the bank.
The overage totals $40K.
Where's that $ go?

Hmmm, almost universally, excess proceeds is due to the person who was foreclosed on. But - the municipality where the foreclosure was filed lacks the timed needed, resources, or staff needed to find the past owner. Also the mortgage company only focus is to prove they haven't kept any overage. So the money ends up in an file by file to figure out the records thatwhich actually have unclaimed money in them. BUT, once you identify one such file, you will find much more using a easy system.

Assume you find the records, and identify huge sums of funds due to ex-owner. Can you retrieve that cash?

Not without a special form.

As of Now, many sate gov's don't allow you get over a small %age of the surplus when you identify it, specially if you try to negotiate a transaction in conjuction with the person owed for identifiying the excess. They frequently name these folks as 'finders', and put a ceiling on there fee to ten to fifteen percent, and some states also require a Private Investigator's license to be allowed.

Okay is the pot of gold past hope at this point?

No Sir. However you can take those monies in your name, regardless:nevermind who should get it by using a system called the 'Gold Mine' - go get it at http://www.surplusfundsriches.com

There are two additional things to remember here...

First. It does not matter how long the overage has been in the earnest $ acct. There is surplus going back 20, 30, 40 years - so it does not make any difference if real estate prices have lately dropped- take surplus out of records which came about when the real estate market was at an uptick.

2. This also works for tax lien sales.


tax auctions are simply foreclosures that are as a resultgovernment going after:attempting to collect taxes owed on a home and are foreclosing to get that debt. The main differences in tax auctions are:

1. There is a chance for a much larger surplus funds amount. Give that some thought. Unpaid taxes of $20,000 on a property that has other debt and sells at auction for $300 grand. Are you kidding me?

2. There might be a 'redemption period' of a coupla yrs during which you are required to sell the home back to the past ownerfor what you have in it. You could lease the property, and put a small amount of repair money into it, and make that $ back, praying the exowner doesnt return in the middle of the redemption period. That's cool because youll recoup what you invested, if the owner does come back, and return the rent money.

However, the Gold Mine Program teaches you a more lucrative way to benefit from sales from a tax foreclosure. You can literally, using the ebook, let the home to be foreclosed on at a tax auction, and then claim the surplus money owed to the exowner your self! Seriously! We trust this e-book because we created it.

Click Here to Find out how to make quick money with a work at home business - great ways to make exta money, working at home no fee - with unclaimed money and state unclaimed money.


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