2 types of lists

1. Tax overage lists

- overages created as a result of property sold at tax sale.
2. Mortgage overage lists
Discussion:

Tax overage lists – tax overages are created when a property is sold in order to satisfy municipal
debt. This can be City, County, etc debt. It can also include debts incurred by departments such as code
enforcement, and even school taxes (most notably in Texas, where this is a frequent occurrence)

- the property must have actually been sold, in order for there to be an overage. In instances where
investors buy the tax liens or ‘certificates’, the property has yet to be sold. If you are unsure as to
whether or not an overage has been created, there is an extremely easy way to tell – has the property
been deeded to someone else?
- If it sold for more than the debt that was owed (included attorney/court costs, which can be added in),
and the deed was transferred at the time of the sale, there is an overage.

*Special Note – the only time you will have an issue here is if the deed has not been transferred. That is
why we have to get a copy of that transferred deed from you. If there is no deed showing transfer of
ownership to the buyer at the sale, don’t turn the file in. We can’t pursue it yet.

Mortgage overage lists – mortgage overages are created when a property is sold in order to
satisfy consumer, or commercial, debt. For our purposes, this includes but is not limited to:

a. mortgages (aka deeds of trust),

b. Home Owner Association dues,
c. Condo Association dues,
d. liens,
e. judgment creditors, etc.

2 main advantages of mortgage overages

1. Mortgage overages tend to be held in perpetuity (forever), by either the County or the State. In other
words, in most States, there is no drop dead date to make a claim forthese monies. That’s a big deal. Don’t
be misled – even if the monies have been sent to the State, they are still open to be claimed in the vast
majority of States.
2. There is very little competition in mortgage overage recovery, versus tax overage recovery. This is partly
because, of course, the tax overage lists are easier in many cases to get – so folks follow the path of least
resistance.

NOTES:
Guys – you are going to probably be transferred around form department to department. We have found that,
unless noted otherwise in the state overview we provided, key departments are:

-For tax overages – can be sheriff or county. Tax collector, tax department or clerk ofcourt or book keeper for
the clerk of court.

For mortgage overages – can be sheriff or county. Clerk of court of other department –chancery court,
interpleader court, master trustee, etc. Do a little research online aswell.

What Should the List Contain?

In a perfect world, the list would have owner’s name prior to the sale, date of the sale, dollar amount of the
overage, address of the property foreclosed upon, and a case number for reference (in tax sales, there is often no
case number, just a pid- property id # - for reference).

With that information, it is very easy to research the debt against the property.

However, there are ‘backward engineering techniques’ that you can use when the list is not perfect. We have put
a video together on that. Using that technique, you can research and turn in a file with as little as a parcel id
number and an overage amount, and approximate date of sale.
You can get the list from your local county, in the courthouse, using the information in the main surplus funds ebook
that this compliments. Or, you can Google™ surplus funds or excess proceeds, overages, remainders, overbids, even
throwing in a state or county name if you have an area in mind to target.

HOWEVER, PLEASE CHECK WITH THE STATES, OR A COUNTY WITHIN THE STATE, TO SEE IF THERE IS A DEADLINE
TO CLAIM THE MONEY. IN CALIFORNIA AND FLORIDA, TAX SALE OVERAGES CAN ONLY BE CLAIMED FOR 2 YEARS.
IN FLORIDA, ESTATE/PROBATE MONEY BECOMES ABANDONED AND IS NO LONGER RECOVERABLE AFTER 7 YEARS.

STEPS FOR SURPLUS FUNDS:

1. ONE: Get a list. No, in this instance, we don’t care where or how you get the list. If you want
to work online lists, go for it. BUT, it needs to have a case reference number, amount of
money held, and the deceased’s name (if estate/probate file) or defendant’s name (last owner
of property of foreclosure).
2. TWO: Pick the files from the list you wish to work.
Recommended: at least $10,000
3. THREE: Run the names of the owners through Pacer to find out if the owner went into
bankruptcy, and if so, when.
4. FOUR: Once you have determined which owners went bankrupt, preferably 2 years before or
after the foreclosure date(or two years before the death or file date on estates), contact the
court that is holding the list and make sure no one has made a claim on the money.
5. FIVE: If there was no claim on the monies being held, contact both the bankruptcy trustee and
the bankruptcy judge using our letters.
6. SIX: Once either the judge or trustee confirms they are willing to work with you – most of the
time verbally – send them the case information that you have.
7. SEVEN: If the court is not willing to work with you, contact the attorney for the debtor (if they
were represented) and strike a deal.
Yes, it is that easy. Now, let’s break down each step further –

Step 1 – Getting a list

One way is to simply Google™ search for a list.
Combine any of the following terms, with the name of the county and state where you want to get a list:
Overage, overages, surplus funds, excess funds, excess proceeds, overbids.
*Note – a lot of people, for some reason, want to work this locally – this is a national from home program so don’t get
caught up in doing that.
The other way to get a list is to call the department that held the foreclosure or auction, and ask for the list of monies being
held when there is an overage created from a mortgage or tax deed sale. Often, your Google™ search will lead you to a page
that the county or sheriff’s department has that has information on overages, but does not actually give you a list.
IMPORTANT – whoever holds the actual foreclosure or tax auction (clerk of court, sheriff, county trustee, tax collector, etc)
will know where overages are being held. Start there.
Don’t be afraid. Calling is really powerful, as some folks are afraid to do that. There are no black helicopters hovering above
the court, waiting to pounce on you for asking for a list. And just be honest – if they ask you why you want a list, tell them
you’re doing research, which is what you are doing.
Finally, you will occasionally run into a department, or an employee, that does not understand what you are looking for, or
simply has never heard of it before. Just move on to another county in that state until you get a list. Then, go back to the
counties you spoke with previously that did not understand your request, and send them an email with a copy of the list so
they have a frame of reference for what you are asking for. Most states have over 50 counties in them.
Note – please notice that at no time have we told you to get a list from the state. Get the list from municipalities that hold
the auction or foreclosure. Yes, the monies eventually get sent (aka escheated) to the state. Once that happens, the list can
contain other monies mixed in with it, be without a dollar amount, or have an arbitrary case number assigned. Do not work
a list from the state.
You can also send an email outlining your request for the list. The email should read something like this: 6 | P a g e
Dear (name of person in the department that you are addressing your email to),
Good morning. My name is (your name), (with ‘your company or dba or llc name’ if applicable), and I am requesting a list of
overages (aka surplus funds, excess proceeds) held by your department, created when a property sells for more money that the debt
owed against it in a (foreclosure or tax deed auction – insert whatever applies).
I am researching these funds. I need the list to contain the name of the person who was foreclosed upon, the dollar amount held, and
the case or parcel number referenced in the action.
Please call me with any questions you may have and I would be happy to answer them. You can reach me at (your phone number).
You can also contact me via email at the email address you received this correspondence from, and/or send the list there as well.
If you would prefer to send a printed list, my address is (your mailing address). If it is necessary for me to send payment for the
printing of this list, please let me know the dollar amount I need to send, if the check needs to be a bank check, and the address to
send it to. I would be happy to send a check and stamped return envelope to you. Please also advise me on how to make the check
out.
Thank you very much for your time and consideration in this matter.
Respectfully,
(your name)(,your company/llc/dba name is applicable)
(your mailing address)
(your email) (your phone #)
(your website if applicable) 7 | P a g e
Step 2 – Check the List
Doublecheck the file names of the cases you find on that overage list to make sure that we are not already working that file.
**This list will not be available for some time. The reason is that it will take time to build and we probably won’t be keeping
and/or updating a list for at least a few months. The resources page will keep you up to date on that. When it is put in place:
The link from this ebook to the resources page will take you to the list of files we are currently working. You can search that
list by file name, file number, and parcel id(in a tax sale this is occasionally used as a case number).
Once you get to our list of files currently worked, you can press the ‘control button’ – CTRL - while depressing the f key and
then enter your search. At any given time we are working thousands of files, so the ‘control f’ method is the fastest and
easiest way to search the list. Search by more than one reference – for instance both the name on the list and the case or
parcel id number.
Note – the only time that we will remove a case from the list is if we are forced to stop working with a researcher, and
destroy the files (reasons for doing so are listed in the independent contractor agreement).
We do not have a ‘saturation’ issue – meaning receiving multiple submissions of the same file. It does happen, however. In
that instance, we will give credit to the researcher that first submitted the file correctly, and with all supporting
documentation. All files are time stamped. Once the file is accepted, it will be put on the list – within 3 working days. If it is a
rare instance where you submitted your file after someone else already sent it in correctly, we will tell you if you did not get
the file.
Finally, if there is an issue with the file, we will let you know the issue and have you re-submit it. We don’t make changes for
you and we can’t keep partial or incorrect files organized on the underwriter’s desk while waiting to re-submit. 8 | P a g e
Step 3 – Check for Ownership
Check to make sure that the person named on the overage list was in fact the last deed holder prior to the sale.
The obvious question at this point is ‘why check ownership if we’re actually looking for debt with this program?’. There are
three reasons:
a. If the person on the list was not the last owner (last deed holder PRIOR to the sale), then you are looking for debt against
another person. That is, debt against the last owner prior to the sale.

b. If the person on the list transferred the property to someone else, prior to the sale (auction, foreclosure) using a quit
claim deed, then you need to check debt on both of those individuals. Quit claim deeds transfer property without regard to
debt that is against the property or the owner. With this program, that is good news. You have two possible owners to
search debt on.

c. If the owner changed prior to the sale using a deed other than a quit claim deed, debt was generally checked at the time
of the transfer. However, read the deed!! You can find warranty deeds that say the new owner is aware of a past debt. You
still need to know who the owner was. For folks who are going to maximize the possible return from this program, a
program such as TLO – google™ TLO – will do an excellent search for judgments against individuals. That is a paid program,
but it is worth it. To maximize your return, we recommend that you work deals where there is at least $5,000 being held in
surplus funds(aka overages). If/when you sign up for TLO, say you are a judgment recovery professional(you are).

There is a video on the resources page showing you how to do this. In the vast majority of States, access to the information
you need to search will be free. A few states charge for access, and you can either avoid those states, or pay the fee.
California is extremely expensive with most – if not all – counties requiring a payment for each individual document search.
Georgia charges a monthly fee of +/- $12.95 to access over 30 Counties.
The online system is usually called the County’s land records department, register of deeds, or real estate site. You can easily
find that by using Google™, and searching for either ‘land records’ or ‘register of deeds’ followed by the county name and
state name. For instance, Cabarrus County North Carolina Register of Deeds gets you straight to a County site. 9 | P a g e

FILE EXAMPLE #1 – TRUSTEE SALE USING 3RD PARTY SEARCH SITE

In this section we will go over how to research and submit an acceptable file. There is also a video with more detail on the
Panning for Hidden Surplus Funds resources and referrals page linked below.
https://surplusfundsriches.net/pfhsfresourcespage
Please note this is an example from Georgia. Not every file or list will look exactly like this. This example is just to show you
the process.
STEP 1 – Work only Approved States
Download the ‘STATE CHART - SPECIAL RULES & ACCEPTANCE DATES’ document found on the resources page.
This chart will let you know what States we accept, which States are judicial vs non-judicial, and will tell you what the max
acceptable date you can submit files from the sales date. We will included a special notes section for certain States.
*Note – do not attempt to use 3rd party sites to access the information. If you see a site show up when you search for the
land records and/or the register of deeds department, that is not a county site – a common one is deeds.com – don’t use
that. Use the County site.
Step 4 – Title Work
Checking to see if there were creditors with a judgment, lien or mortgage in place prior to the sale, recorded in same county
where the home was located
Checking for mortgages against the property is covered in a video on the resources page. It is straightforward and fairly easy
to do. Mortgages are also known as security deeds, deeds of trust, mortgages.
Unsatisfied mortgages will almost always have the first position – for claiming overages, so that is the first type of debt to
check. The reason unsatisfied mortgages have a priority claim(when they exist), is that the mortgage company checked to
see if the individual had a judgment prior to issuing the judgment, and required that judgment be paid off prior to issuing
the mortgage.
Unless the county lists the mortgage as satisfied, terminated, paid off, etc, it was still active at the time of the auction or
foreclosure, and therefore has a claim to the overage. AND, it is necessary to read the satisfaction. Sometimes the
mortgages (aka security deeds, aka deeds of trust) are said to be satisfied but when you read the satisfaction it says that the
satisfaction only cancels the mortgage, NOT the debt.
We do not recommend that you attempt to try to contact and/or work with large banks and/or large mortgage companies,
as the answer will be ‘no’, if you can even get a number to call. Small banks, hard money lenders (individuals listed as the
beneficiary of the mortgage), bail bondsmen(bail mortgage), small credit unions, holders of mechanics liens, etc. are fine to
work. Note – mechanics liens might not be in primary or first position.
Once you have searched to see if there are mortgages, you need to then search for judgments and/or liens against the last
owner of the property prior to the sale (and the owner before them, if that last owner prior to the sale got the home via a
quit claim deed). You usually can’t find judgments or liens online with the county.
In the event that you can’t search for judgments or liens against the person online, you will need to get TLO – aka TLO XP.
Google™ that to find them. They are a company that provides credit information including information on judgments and
liens. We have included an 10 | P a g e
overview of how long judgments and liens stay active in each state. There is also a statutory maximum percentage a
judgment or lien holder can charge as interest – that is also listed. When in doubt, the max amount allowed is what you
need to use.
Step 5 – Contacting Creditors
If there were judgments, liens, or mortgages against the property or person prior to the sale, and they haven’t expired, you
contact that creditor and see if they would be willing to work with you (or us if you want to refer it in to us).
Finding creditors is extremely easy. You can usually just Google™ to search for the business or individual’s name. You can
also look up the business on the better business bureau’s site, and usually on the Secretary of State’s site for that State. You
can also Google™ the State name followed by ‘foreign corporation list’ and the State will often keep a site dedicated to
firms, LLC’s, etc that are registered as ‘foreign’ corporations. Foreign just means that the firm is not headquartered or
recorded as a corporation initially, in that state.
Note about companies that have gone out of business – when a business goes out of business, and they had registered with
the secretary of state, there is sometimes a ‘receiver’ or ‘agent’ named to handle incoming funds. Contact that person to see
if they can make a deal on the debt. However, if there is no receiver or agent named, the owners or shareholders of that
company will usually have to re-open the business – make it active again – just to collect the funds and/or sell the debt to
you.
Scripts and mailings are included in this ebook. If you want to work as a researcher for us with this program, you will have to
have a conversation with the creditor(or their representative if it is a company), to make sure that they are even interested
in working with someone to sell the judgment or lien.
Yes, you can have them assign the judgment or lien to you, and then go collect the overage. But we recommend – if working
this on your own and without us – that you buy the judgment or lien. In other words, you have them assign the judgment or
lien to you, but you also pay them the amount you agreed to, for the judgment upfront. The exception to that would be if
the judgment was, for example, for $200,000 and there is only $10,000 of overage to collect. In that instance, we would
recommend you use an assignment and a judgment recovery agreement to work that.
This step includes steps 6 and 7. 11 | P a g e

Before we go any further – you have to know how long a judgment stays in
force! This varies by State and is in a constant state of ‘flux’. So, this is the
best reference we have found, where you can search by state: