"Rolled dollar" (CC BY 2.0) by MoneyBlogNewz
Recently, we received a plea from Denver Clerk and Recorder Debra Johnson. “I need your help in getting more than $1.5 million back into the hands of Denver residents!”
Who could resist that eye-catching request? We are happy to relay the information.
Johnson’s plea regards those who have gone through the foreclosure process in recent years. As the economy has strengthened, repossessed homes “are selling at higher and higher prices,” notes Johnson. “Often that means that the property sells for more than the owner owed the bank.” The difference between the two, she notes, is called “Excess Funds.” “That’s the money we’re trying to get back to the former owner.”
Johnson notes that many who receive notification from her office that they are entitled to refunds never read it. “People who lose their home have likely suffered a loss: loss of a job, loss of their health, or they’ve lost the love of their life. And now they’ve lost their home. They can’t take any more bad news – and that’s all they think a letter from my office is going to say – more bad news.”
The upshot? If you’ve been involved in a foreclosure, you may be entitled to a part of that $1.5 million. If the former owner of the property has passed away, relatives are eligible to inherit the money.
CLICK HERE to find a list of properties that qualify and instructions on how to claim the money.
Johnson notes that there are no costs involved and the reward can be significant. “We know how this money can give people a new start in life – we’ve seen it firsthand,” she says.