Sheriff’s Foreclosure Surplus Funds Sit, Over $100,000 Waits to be Returned


Funds sit, wait to be returned

County sheriff hopes to distribute $100,000

The New Castle County Sheriff’s Office has more than $100,000 that belongs to the owners of eight homes that were sold earlier this year because of tax delinquencies and a foreclosure.

The government, however, can’t find the people to give them the money.

The money is excess proceeds from the sales, which took place over the past six months, Sheriff Trinidad Navarro said. He suspects the owners of the homes have no idea they are entitled to the difference between what was owed the government or mortgage company and the amount of the tax sales.

In most cases, homes lost at sheriff sales are sold for less than what is owed. But that’s not the case for the eight property owners Navarro is trying to find.

“They assumed the sale meant a total loss of their home,” Navarro said. “In these cases, there was money left over and I want to get it to them, because it’s not the government’s money. It’s theirs.”

Rest here…


One Response to “Sheriff’s Foreclosure Surplus Funds Sit, Over $100,000 Waits to be Returned”
  1. Kim Wilson says:

    The FBI could tell them where the home owner is in 10 minutes I bet, if they really wanted to return the money and all money at unclaimed property turned over to the government by banks and investment houses nation wide. Charge 10% of the amount turned over to the government as a standard fee to pay for the staff to find the owner, instead of letting the funds pile up all over the country with no real solution. Some people have a neurological disease like my Dad has alzheimer’s and do not even know where their money is. 1 in every 17 people have some form on mental illness etc…
    I filed an SEC whistle blower case a long time ago that addresses closing agents and the banks payoff both collecting the same fees on the HUD1 at closing in the categories of property taxes and property insurance. I demonstrated how it happened to me and collected the documents from the property tax office to prove how bad the problem is because they keep great records. The Seminole county property tax office said the “mistake” happens all the time and they have to cut double payment checks back to closing agent, attorneys and banks. If you get caught you just return the money to the home owner. The citizen has no idea it even happened to them. I realized this is probably a lot bigger then Madoff if they would trace over payments of property tax refunds all the way back and where the money ended up and the SEC ignored my concern. The sample two page report I requested had over payments as high as $62,831.13 for one payment. And these #’s do not even include the amounts that were never sent to the tax office to be refunded on the record.

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