In the event that there is surplus money from a foreclosure sale after the mortgage debt has been paid off, RPAPL §1361 comes into play. Any party that asserts a claim to the surplus funds may file with the court clerk a notice of their claim and the basis for it. Once a motion for confirmation has been made, the court shall determine and notify those who have made claims the amount due to each and the order in which each will be paid.

If you need help with claims for surplus money in a foreclosure, contact us online or call Scott Lanin, Esq. at (212) 764-7250 Ext.201. We offer a free phone consult to review and evaluate your case or you can schedule an office consult.