Q: How long does it take to get the overage after foreclosure in Georgia
A: The timeframe varies greatly depending on many factors, including the number of lien holders (if any) to be paid, whether an interpleader is filed, and the foreclosure firm itself (some are quicker at disbursement than others).
A: It is rare to receive the surplus funds quicker than 30 days. In the event that the surplus funds are turned over to the court in an interpleader action, it could take 6-12 months to receive the money. Hiring an attorney expedites the process and helps avoid evidentiary issues as well as issues with the determination of priority. Attorneys usually charge a percentage only if your case is successful. The percentage charged varies from 12% to 40%. My firm charges 12%. Schedule a free consultation to make sure your surplus funds claim is successful.
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