National Surplus Funds Form
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People also ask
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What are the surplus funds?
Surplus Funds is a term used in the Final Accounting process and refers to an amount of loan or grant proceeds in excess of expenditures for the asset purchased (or constructed) with applicable proceeds.
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What is an example of a surplus fund?
Those funds are called surplus funds. For example, there is a foreclosure judgment entered in the amount of $200,000. At the public auction, the real property sells for $225,000. This sale results in surplus funds amounting to $25,000.
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Who can claim surplus funds in Florida?
Know Your Right to Surplus Funds in Florida You need to be aware that you have a right to the surplus funds that resulted from your foreclosure. If you have a second mortgage, you might not receive any funds, but if there is no secondary party involved in the lienholder position, these excess funds should come to you.
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What is the surplus fund?
Surplus Funds is a term used in the Final Accounting process and refers to an amount of loan or grant proceeds in excess of expenditures for the asset purchased (or constructed) with applicable proceeds.
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How do I claim surplus funds in California?
Notification: After the foreclosure sale, you will receive a notice from the trustee if surplus funds are available. The trustee must also file a report with the court. Filing a Claim: Submit a claim form to the trustee or the court, detailing your right to the surplus funds.
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What is bank surplus funds?
Surplus funds means funds in excess of those needed for normal operations in the Clearing House Accounts and the General Accounts, each as referenced in CME Rule 802.
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How do I claim surplus funds in California?
Notification: After the foreclosure sale, you will receive a notice from the trustee if surplus funds are available. The trustee must also file a report with the court. Filing a Claim: Submit a claim form to the trustee or the court, detailing your right to the surplus funds.
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What is mortgage surplus funds?
Surplus funds, also referred to as overage or excess funds, are the funds remaining after a mortgage is paid through the final judgment of a foreclosure auction. The trustee appointed in the foreclosure auction is responsible for disbursing the funds without charging additional fees.
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