Surplus funds, overages, or excess funds refer to the money that remains after a foreclosure sale when the property is sold for more than the amount owed on the mortgage and other liens. 

This surplus amount legally belongs to the former homeowner, not the foreclosing lender or other lienholders.

The key points are:

Surplus funds are legitimate and not a scam, though there are some predatory companies that try to take advantage of homeowners.

The process for claiming surplus funds varies by state, but typically involves the foreclosure trustee or court notifying the former homeowner and providing a limited time window to make a claim.

Homeowners need to act quickly to claim their surplus funds, as they can be turned over to the state's unclaimed property division if not claimed within the specified timeframe.

Consulting a foreclosure attorney can help ensure homeowners recover the full amount of surplus funds they are entitled to, as the process can be complex.

The goal of surplus funds recovery is to provide financial relief and a fresh start for homeowners who have gone through the difficult experience of foreclosure. Equity Edge Surplus Recovery Group can leverage its expertise to guide clients through this process effectively.