What Is Equity Recovery?
Equity Recovery is a service we provide allowing former homeowners or their heirs an opportunity to recover excess funds which may be available to them from the sale of their property.
How do I Get Paid?
There are two ways we help victims of foreclosure or their next of kin earn money.
The first is by representing them after the sale of their home, to ensure the legal transfer of their funds while navigating bank relations, court requirements, tax mandates, and buyer’s expectations.
The second is through a Cash-For-Keys Agreement. This agreement, which is negotiated by our legal team, negotiates a settlement, paid by the buyers so they gain earlier access to their newly purchased property if it is still being occupied by a former resident.
How does it work?
When a bank repossesses a home due to foreclosure, it is sold at auction. When the home sells for more than the outstanding debt, the remaining equity is legally entitled to the previous homeowner for a limited time. Unfortunately, if a homeowner fails to claim these monies, they are forfeited to their local state government.
Our team is immediately notified when a foreclosure auction is finalized and begins working on your behalf to help those funds find their way into your hands before time expires.
Once we have made contact with you and have been hired as your representatives, our team of lawyers works with banks, buyers and local governments to manage the transfer of your equity, all at no upfront costs. Our costs are only paid once your funds have been received.