Surplus funds course teach how to identify, locate, and help former property owners recover excess proceeds (overages) left over after tax deed or mortgage foreclosure sales. These courses often cover locating homeowners, navigating county records, and legal procedures, allowing individuals to start an overage recovery business.
Common Course Offerings and Resources
- Simple Surplus Funds Course (Cecil’s School): Focuses on teaching how to find money for homeowners who went through foreclosure.
- Unlock Riches (Udemy): A course designed to provide basic knowledge and skills for starting a home-based surplus recovery business.
- DIY Tax Sale Overages Guide (Walter’s Site): A video guide designed for individuals to understand the claim process.
- Florida Surplus Funds Training (Money Making Juggernaut): Specialized training focusing on mortgage and tax deed surpluses within Florida.
Key Aspects of Surplus Funds Business
- What they are: Surplus funds (or overages) are the funds remaining after a mortgage is paid off through a foreclosure auction.
- Recovery Process: Often requires navigating legal processes and petitioning the court, typically taking 90 to 120 days to recover.
- Legitimacy and Risks: While the service of recovering funds is legitimate, some practitioners may operate as “surplus funds recovery agents” without state licensing, making it important to vet the legitimacy of any training or business model.
- Alternative Information: Free information on how to start this business is available through resources like Tax Sale Resources.