Foreclosure Surplus Funds Process

Summary

In wisconsin, if a foreclosed home sells for more than the owed amount, surplus funds are used to pay additional liens, with remaining funds returned to the homeowner. The timeline to receive these funds can vary from weeks to months. Creditors can only claim additional amounts if justified by judgment terms. To request surplus funds, contact the court or trustee, submit a written request, and ensure no pending claims. Consult a local attorney if needed.

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My home in Wisconsin has been foreclosed on and sold at sheriff's auction for $*,*. My liens on the house total $*,*. I only owed $*,* on my house. What happens with the remainder overhead?
In Wisconsin, if a foreclosed home is sold for more than the amount owed, the surplus funds are typically used to pay off any additional liens. After settling liens, any remaining surplus is returned to the homeowner. You may want to check with the court or trustee handling the foreclosure for specifics.
How long after the sale does it usually take to receive that money
The timeline can vary, but generally, it may take several weeks to a few months to receive surplus funds after a foreclosure sale. It's a good idea to contact the court or trustee handling your foreclosure for more precise information regarding your case.
US Bank has requested the additional amount be added to their judgment. Can they do this?
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In Florida, creditors may request additional amounts be added to a judgment for costs like interest or court fees. If you believe the request is unjust, consider contesting it in court. Check your judgment details for specifics. Would you like more guidance on contesting it?
I'm in Wisconsin not Florida
Thank you for clarifying your location, ****.
In Wisconsin, US Bank or any creditor might try to claim additional amounts, but they can only do so if it's justified by the judgment terms. It's essential to review your foreclosure judgment and consult with a local attorney if you believe the request is unjust. Would you like more guidance on this matter?
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How do I request this money before US Bank gets it
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To request surplus funds from a foreclosure sale in Wisconsin before US Bank claims them, follow these steps:
- Contact the court or trustee handling the foreclosure sale to inquire about the process for claiming surplus funds.
- Submit a written request or claim form, if required.
- Ensure no other liens or claims are pending on the surplus funds.
Would you like help with any specific part of this process?
Can you show me an example of a written request or claims form in Wisconsin I must have for these monies
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While I can't provide a specific form, I can guide you on what to include in your written request for surplus funds from a foreclosure sale in Wisconsin:
- Your full name and contact information
- Property address and foreclosure case number
- Amount claimed as surplus
- A statement confirming no other pending claims on the surplus
- Signature and date
Check with the court or trustee for any specific form requirements.