The 5-steps to Getting paid after foreclosure
The Claims Process
Step 1 - Research
The first step we take before getting the claim process started is research. Our team of researchers will find out how much you are owed, the property details, if there are any liens on the property, and any other variables that may require additional steps. Once we have found everything we need and compiled the documents, we move to step 2.
Step 2 - Paperwork
The next step is the most boring but it is the most important in the process. Document signing.
FRG/Client Service Agreement
This document outlines what we are doing for you, the estimated timeline, details about the finances retained by our company and the attorney, and other information about our involvement and expectations.
Attorney/Client Agreement
All interactions with the county where you live are conducted through a reputable, licensed attorney to make sure the process goes smoothly and your funds are protected. The attorney/client agreement outlines the 3% fee collected, expectations, and requirements.
Claim Form
We will complete the claim form ahead of time with your details and information required by the county where you are recovering funds. If the claim form requires a notary, we will take care of the notary fee.
Step 3 - Filing
This step is facilitated by the attorney who you've given authorization to represent you in the recovery process. The attorney will file all necessary paperwork with the court/county in accordance with their requirements and keep you updated along the way.
Step 4 - Processing
This is the step that requires waiting. During the processing phase, the county and courts are doing their job to make sure they've got all the required documentation to write the check. We will check on the progress and update you regularly.
Step 5 - Payment
The check from the county will be made payable to the attorney working on your behalf. The attorney will deposit the funds into their trust account and write two checks from that account. After the attorney subtracts their 3%, A check will be written to FRG for 19% of the total recovered amount. The second check will be for all remaining funds, payable to you.
Don't stress. Foreclosure Recovery Group is in your corner.
There's no need to navigate the claims recovery process on your own. Let the recovery experts knock it out. We'll keep you updated every step of the way.