Mortgage Foreclosure Example
* $60,000 Mortgage Note balance
* $110,000 - Property auction sale proceeds
* 65% - YOUR REFUND
* 35% - Our recovery fee
Once we have agreed to proceed with your foreclosure refund claim, we will hire a professional Mobile Notary in your local area to meet with you to sign and notarize your refund documents. We will arrange for the Notary to return the signed documents back to us for processing.
Once we receive the refund documents from the Mobile Notary, we will complete our portion of the documents and submit them for processing. Processing time is normally 6-8 weeks.
$110,000 - Auction Sale Proceeds
- $60,000 - Mortgage Balance
= $50,000 - After Mortgage Paid
- $ 300 - Document Fees
= $ 49,700 - Proceeds After Fees
$32,305 - YOUR REFUND ($49,700 x 65%)
$17,395 - Our fee ($49,700 x 35%)
Once we receive payment, we will calculate your document fees and refund amount. Then, we will issue you a certified check for your refund and mail it to you with a copy of your signed and notarized refund documents via ground delivery service.