6h • General discussion
How a surplus check gets created
A foreclosure sale is an auction. When the winning bid comes in higher than what the borrower owed, the extra money does not belong to the bank — and it does not belong to the county either.
The debt gets paid. The costs get paid. Whatever is left is surplus, and in most states it is held by the court or county for the former owner to claim.
Here is the part most people never hear: nobody's job is to chase the former owner down. The official notice often goes to the address they were just foreclosed out of. Then the money sits — sometimes for years, sometimes until a filing deadline quietly kills the claim.
That is the entire business in one paragraph: find the money, find the person, prove the entitlement, file it right.
Foundations 1 in the classroom walks the whole mechanism in five short lessons. Start there, then come back and introduce yourself on the pinned post.
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How a surplus check gets created
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