Thursday, February 04, 2016

Foreclosure Surplus Snatchers Begin Making Their Return

From a following op-ed article in The Denver Post by Debra Johnson, the city of Denver's elected clerk and recorder:
  • As Denver's clerk and recorder, I returned more than $2 million in excess funds in 2015 to people who lost their homes in foreclosure.

    But "finders" try to take some of that money from the people who need it most. These people tell those whose homes sold at a foreclosure auction that the only way to get the excess funds is to pay the finder to get it for them.

    Properties that sell in a foreclosure auction are selling at higher and higher prices. Often that means the property sells for more than was owed. The difference in the selling price and what is owed is called excess funds.

    Excess funds belong to the people who went through foreclosure, and my office gladly gets those funds back to them free of charge.

    Finders tell people that we're sending the money out of state. Finders tell people that we don't want to give them the money. Finders contact people before their home is even sold and persuade them to give the finder money to use their services — unnecessary services.
    ***
    We don't have any illusion that this money will fix [foreclosed homeowners] lives and make it whole again. But it can help. [...] You might know someone on the excess funds list. We currently have more than $2.1 million in excess funds we're holding for people.

    There is no cost to these people to get their money.

    Please check the list at denverclerkandrecorder.org. Click on "Foreclosure & Auction Information," then "Did Your House Sell?" The current list of properties with excess funds is there, along with the claim form and instructions.