Surplus Funds Data Solution
Get access to thousands of surplus funds leads within just a few clicks. These leads have been collected from reliable sources, well formatted and easy to access with a tailored prospect management system built for recovery agents.
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manage Prospects
1. Update Foreclosure Auctions
Firstly we manually crawl down all the foreclosure auction results and sort out properties sold to third party bidders (Potential as Surplus Funds Leads). To do this we maintain an auction calendar to track down all the upcoming auctions so that we can make sure none of them are due updated into our database. Sometime we collect the data before sale (depends on the situation) and keep you updated frequently till there are no remaining balance.
2. Title Search Foreclosing Properties
When the database is up to date with all the auctioned properties, our next step of research includes doing a basic title search to determine the priority claimants of surplus funds (Owners at the time of sale in most cases). We also do run a due diligence search to identify any lienholders or banks are in priority over the previous owners. We also do an amortization calculation to determine the most possible outstanding balances of unsatisfied mortgages.
3. Skiptrace
Our next step involves finding contact details of claimants. If you’ve already dived in, you may have faced the difficulties finding contact details where the contact person is dead or the foreclosed property is a vacant lot. It’s bit difficult to find their current living address since people don’t live in vacant lots. So to overcome these situation, we’ve built some strategy to locate heirs and current addresses utilizing public records.
4. Keep Updating
Whether we find the surplus out of background case research or from the county published lists, we tend to keep our database up to date and clean. This cleaning process involves removing leads that we could determine as fully claimed. We also update the surplus status if any of the priority claimants are processing their claim (depends on data availability). We usually update the statuses weekly or bi-weekly depends on the County rules and regulations.
