--- title: "Foreclosure Proceeds Fraud by Recovery Companies and Agents | E. Albert Law" description: "I constantly get calls from potential clients who are suspicious of surplus funds recovery companies contacting them after a foreclosure. Learn how to tell the difference between legitimate recovery and fraud." lang: en json-ld: | { "@context": "https://schema.org", "@type": "Article", "headline": "Foreclosure Proceeds Fraud by Recovery Companies and Agents", "description": "I constantly get calls from potential clients who are suspicious of surplus funds recovery companies contacting them after a foreclosure. Learn how to tell the difference between legitimate recovery and fraud.", "datePublished": "February 28, 2023", "author": { "@type": "Person", "name": "Esther Mesidor" }, "publisher": { "@type": "Organization", "name": "E. Albert Law" }, "image": "https://excessfundslawyer.com/images/blog/surplus-funds-fraud-social.jpg" } --- [![E. Albert Law](/assets/ea-law-logo-BW8YqpsI.png)](/) Georgia Lawyer [Atlanta Accident / Personal Injury Lawyer](/atlanta-personal-injury-lawyers)[Georgia Foreclosure Excess Proceeds Recovery Attorney](/surplus-funds-recovery) Surplus Funds [Former Homeowner](/georgia-homeowners-claim-for-surplus-money-after-foreclosure)[Third-Party Companies](/atlanta-lawyer-for-third-party-companies-fund-claims)[Other Interested Party](/georgia-other-interested-party-rights-to-excess-proceeds-claim)[Attorney for Foreclosure Probate Services](/atlanta-attorney-service-for-probate-owners-fund-claims)[Find a County List](/blog/georgia-county-surplus-funds-list) Atlanta Area [Atlanta](/atlanta-personal-injury-lawyers)[Buckhead](/buckhead-personal-injury-lawyer)[Decatur](/decatur-personal-injury-lawyer)[DeKalb County](/dekalb-county-personal-injury-lawyer)[Dunwoody](/dunwoody-personal-injury-lawyer)[Fulton County](/fulton-county-personal-injury-lawyer)[Mableton](/mableton-personal-injury-lawyer)[Sandy Springs](/sandy-springs-personal-injury-lawyer)[Smyrna](/smyrna-personal-injury-lawyer)[Stone Mountain](/stone-mountain-personal-injury-lawyer) Personal Injury [Back Injury](/atlanta-back-injury-lawyer)[Construction Accident](/atlanta-construction-accident-lawyers)[Dog Bite](/atlanta-dog-bite-lawyer)[Fall Accident](/atlanta-fall-accident-lawyer)[Industrial Accident](/atlanta-industrial-accident-attorney)[Neck Injury](/atlanta-neck-injury-attorneys)[Spinal Cord](/atlanta-spinal-cord-injury-attorney)[Warehouse](/atlanta-warehouse-accident-lawyer)[Whiplash](/atlanta-whiplash-injury-attorney)[Work](/atlanta-work-accident-lawyers)[Workplace](/atlanta-workplace-injury-attorneys) Georgia Attorney [Georgia Personal Injury Lawyer](/georgia-personal-injury-lawyer)[Georgia Car Accident Attorney](/georgia-car-accident-lawyer)[Georgia Truck Accident Attorney](/georgia-truck-accident-lawyer)[Georgia Motorcycle Accident Attorney](/georgia-motorcycle-accident-lawyer)[Georgia Bicycle Accident Attorney](/georgia-bicycle-accident-lawyer)[Georgia Pedestrian Accident Attorney](/georgia-pedestrian-accident-lawyer)[Georgia Slip & Fall Accident Attorney](/georgia-fall-accident-lawyer) Vehicle Accident [Car Accident](/atlanta-car-accident-lawyers)[Bicycle Accident](/atlanta-bicycle-accident-lawyers)[Motorcycle Accident](/atlanta-motorcycle-accident-lawyers)[Pedestrian Accident](/atlanta-pedestrian-accident-lawyers)[Truck Accident](/atlanta-truck-accident-lawyers)[Distracted Driving](/atlanta-distracted-driving-accident-attorney)[Drunk Driving](/atlanta-drunk-driving-accident-lawyer)[Hit and Run](/atlanta-hit-and-run-accident-lawyers)[Lyft](/atlanta-lyft-accident-lawyer)[Rideshare](/atlanta-rideshare-accident-lawyers)[Uber](/atlanta-uber-accident-attorney) EA Law [About](/about)[Blog](/blog)[Facebook Group](https://www.facebook.com/groups/surplusfundsgeorgia)[Contact the Attorney](/contact) [678-664-4878](tel:6786644878) [](tel:6786644878)[678-664-4878](tel:6786644878) # Surplus Funds Recovery Scams to Avoid February 28, 2023 4 min read ![foreclosure proceeds fraud by recovery companies and agents](/images/blog/surplus-funds-scam.jpg) I constantly get calls from potential clients who are suspicious of surplus funds recovery companies contacting them after a foreclosure to inform them that they have thousands of dollars owed to them known as **surplus funds, excess proceeds,** or **overages**. Most homeowners don't know that it's even possible for them to be entitled to money after their property is foreclosed. So, it's understandable that they would assume it's a scam when a random person calls saying that they have found large amounts of money owed to the homeowner and would like to help them claim it. ## Are Surplus Funds Legit or a Scam? Surplus funds are legitimate. When a home is sold at a foreclosure auction for more than what was owed in [back taxes](/blog/tax-deed-sale-overage-money-explained) or [mortgage payments](/blog/mortgage-sale-excess-proceeds-fund-guide), the previous homeowner has a legal right to claim the surplus funds. My clients often call me after a surplus funds agent mentions my name on a call to verify that I actually know them. I assure them that we do indeed work with the recovery company and I let them know that we have helped clients recover millions over the past year. However, it's important for homeowners to be aware that there are surplus funds recovery companies out there committing very real fraud. They do this by not informing people of just how much money they are truly owed. ## What is a Surplus Funds Scam? Companies that scam people out of surplus funds are usually able to do so by having the claimant sign the rights to the money over to the company in exchange for an upfront payment of a few thousand dollars instead of having to wait months to get the funds. What the homeowner isn't aware of is that they might actually be owed 25 times as much as what they received in some cases. For example, a Florida man by the name of Robert P. Anderson gave $2,000 to an elderly woman for rights to her funds and she later found out that she was actually owed over $54,000. She was just one of 17 clients that he did this to over a 3-year span. Some states have [laws](/blog/state-laws-for-surplus-money-claims) in place to help prevent surplus funds fraud. Many counties in Georgia do not accept claims from third parties, unless the third party is an attorney's office. ## How To Avoid Surplus Funds Fraud 1. To avoid surplus funds scams, verify the total amount of funds owed to you and work with an experienced surplus funds attorney. 2. If you partner with a third party company, ensure that they hire an attorney to assist with the claim so that your funds will be securely held in escrow when released. ## Surplus Funds Recovery If you need help recovering surplus funds after your home was sold at a foreclosure sale for more than what you owed, our office handles [fund claims](/surplus-funds-recovery) so you can recover the money you are entitled to in as little time as possible. Call E. Albert Law at [678-664-4878](tel:6786644878) for your free consultation or email surplusfunds@ealbertlaw.com. [Surplus Funds Laws by State ](/blog/state-laws-for-surplus-money-claims)[How Long Does It Take To Get Surplus Funds? ](/blog/how-owners-collect-money-from-foreclosure-sale) ### Contact Us Today Please note: Our office does not respond to requests for excess funds lists. Please contact the county directly. Name \* Email \* Phone \* Message \* Send > > "The Lord God has told us what is right and what he demands: See that justice is done, let mercy be your first concern, and humbly obey your God." \- Micah 6:8 [![E. 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Albert Law, LLC. All rights reserved. Atlanta Personal Injury Attorney and Georgia Excess Funds Lawyer