Loxley Recovery

07/11/2023

21 Key Foreclosure Stats...

The most recent foreclosure statistics show a steady decline in foreclosures across the US. However, foreclosure rates greatly differ by state.

07/11/2023

https://finance.yahoo.com/news/foreclosures-rising-experts-means-housing-180030618.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAADIXPmQg7ev1Ur2YnmNPznPHARCTIe0GzH4aBPRbtR6DeDorA913KU9P6FZxKYxy6RANDCf1H_0E-7zmMCQTtSlLwu38xOg1HIj_nNwMZJpwIS3lAZwd3NM9v7wklr0dEyD645dRDW3bqniRoNet-okjCnY26HUO2BYI3KCMRWwg

Forclosures are rising...what does it mean for the housing market?

In May of this year, ATTOM recorded a sharp uptick in foreclosure rates around the United States.

06/28/2023

https://www.nbcnews.com/business/economy/home-foreclosures-rising-in-us-where-which-states-rcna88394
Metro areas with populations greater than 1 million with the worst foreclosure rates in May were: Jacksonville, Florida (1 in every 1,699 housing units); Baltimore (1 in every 1,908); Chicago (1 in every 1,991); and Orlando, Florida (1 in every 2,049).

Adjusted for inflation, incomes for U.S. workers remain below their pre-pandemic highs as elevated costs for goods and services linger.

06/08/2023

An industry report finds 311,508 homes in the foreclosure process in the second quarter

For months some housing pundits have warned of a housing market bubble that is about to burst in a wave of foreclosures. For the first time, foreclosures a

06/08/2023

This housing correction could be different from the one in 2008: Homeowners have a lot of equity given the quick pace of appreciation over the last two years.

Foreclosure notices ticked up nationwide in the first quarter of the year with more than 65,000 properties beginning to go through the process.  There were 36,617 new filings in March, wh…

04/28/2023

Surplus funds, also known as excess funds, overages, or excess proceeds, are left over funds that may be claimed by a homeowner when a foreclosed property is sold at auction for more than what was owed in mortgage payments or property taxes.

At times, homeowners are not able to keep up with mortgage payments or pay the back taxes owed on their property.

When this happens, homeowners can lose their homes in what is called a tax sale, sheriff's sale, or a mortgage foreclosure sale, which is a public auction where foreclosed properties are sold to the highest bidder, in order to pay off the debt.

Sometimes a foreclosure sale generates more money than required to pay off the debt, resulting in excess funds.

Excess funds may be claimed by the person who owned the property at the time of the foreclosure sale, the owner of each security deed that affects the property, or any other party that has a lien or recorded equity interest in the property at the time of sale.

The lender or the county cannot legally keep any money exceeding what was owed to them unless the overage funds remain unclaimed for a certain amount of time.

Depending on the laws of the state, the previous property owner has anywhere from a few months to a few years to claim surplus funds.

Contact Loxley Recovery to help you thru the process today!

04/27/2023

We understand that, for some of you, it’s not news that you are entitled to the leftover money after your property is foreclosed on and sold at an auction for more than what was owed to the lender or the county.

But it's not an easy or straightforward process, and different counties often have different rules. Some counties may take up to 18 months to finalize claims. We take lead on getting your claim submitted, and keep you posted on progress throughout the entire process.

We will find where your money is, we will submit the claim, prepare all the paperwork, hire attorneys for you, work on all the legal documents with all the government entities, make contacts with them, and keep you updated throughout the process.

Most importantly - This process is risk free. We will get you your money back (if all goes as planned), and if we don’t succeed - you don’t owe us anything. We take all the risks.

04/27/2023

No one deserves to lose their home.

Let us, at least, help you recover what's owed before the government can legally claim it.

We want to help you start over…and, there’s no risk!

04/27/2023

You already know that if you don't pay taxes to the county or mortgage to the bank - your house will be taken away

You also probably know that properties that end up in foreclosure are often sold at auctions to the highest bidder.

BUT, did you know that once the house is sold for more than what is owed to the bank or the county, the leftover money should go back to the previous homeowner?

We believe that each and every citizen has the right to know.

That's why we want to join forces to help you recover your funds
after the foreclosure.