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) DEED HOLDER(S) AT TIME OF FORECLOSURE (NOT THE BUYER) DEED RECORDATION DATE BOOK AND PAGE# (THE OWNER S DEED AT TIME OF SALE, NOT THE BUYER) REFERENCE #) (OR INSTRUMENT, DOCUMENT OR FILE OR CASE NUMBER/DESCRIPTO.
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Satisfactions FAQ
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Those funds are called surplus funds. For example, there is a foreclosure judgment entered in the amount of $200,000. At the public auction, the real property sells for $225,000. This sale results in surplus funds amounting to $25,000.
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Question. What are surplus funds? Answer. Surplus funds are contributions given for an election that remain after the election and that are not needed to pay obligations from the election campaign and may only be disposed of in one or more ways permitted by law.
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In general, if no other liens or claims exist, the owner of the property which is sold at auction has the right to collect any surplus funds after foreclosure. However, if any liens or claims exist, they would have priority over the owner of the property to the surplus foreclosure funds.
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Surplus funds are extra monies above the foreclosure judgment amount held by the Clerk of Court following a sale in a foreclosure case. The plaintiff in such cases (either the Bank or the Association) may only bid up to its judgment amount at the sale.
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Those funds are called surplus funds. For example, there is a foreclosure judgment entered in the amount of $200,000. At the public auction, the real property sells for $225,000. This sale results in surplus funds amounting to $25,000.
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Surplus funds means all those moneys and securities readily convertible into cash, except allowance funds and segregated trust funds, which are held to the credit of an Indian at the Osage Agency and which may be disbursed, expended or invested only upon authorization by the Secretary.
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Surplus funds after a foreclosure sale are calculated by subtracting the outstanding loan balance from the sales proceeds and then adding any costs the lender had to pay to foreclose on the property. If there are any junior liens, those get paid next. Finally, you'll get paid if there are any funds left.
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