Excessive Funds Claim printable pdf download

FFICE OF THE

LERK AND

ECORDER

UBLIC

RUSTEE

IVISION

Sindee Wagner, Chief Deputy Public Trustee

Debra Johnson

Clerk and Recorder

Public Trustee

Post-Auction, Foreclosed-Upon Homeowners May Be Owed Money!!!

PLEASE NOTE:

PROPERTY OWNERS OF RECORD DO NOT NEED TO PAY A FEE TO THE PUBLIC TRUSTEE

ANY THIRD PARTY

TO COLLECT EXCESS FUNDS!

If a house was sold to a third-party investor at The Denver Public Trustee’s auction, it is possible that the

winning bid was for more than what the homeowner owed. This is called an “overbid” which results in

excess funds. Colorado revised statute (38-38-111), states that excess funds must be distributed in the

following order:

1. First, to the foreclosing lender, usually a bank, to satisfy any outstanding debt (AKA as a

“deficiency”), in the case where the lender’s initial bid at auction was for less than the total due.

2. Second, to any junior lien-holder who, on filing a valid Intent to Redeem within eight business

days post-sale, decides not to act on his prerogative to buy the property outright, choosing instead

to have his lien satisfied with excess funds.

3. Finally, to the foreclosed-upon homeowner.

If claims for #1 (lender) and #2 (junior lien-holders) have been met, and there are remaining excess

funds, the property owner(s) of record will be notified by our office about the availability of these proceeds.

Letters are sent to all known addresses for the property owner per the foreclosure file. In addition, The

Denver Public Trustee accesses social media websites and voter registration address changes in order to

attempt to contact the homeowner to make them aware that money is due them. Statutorily, our office is

also required to publish a notice of overbid funds in a newspaper of general circulation.

You may also check for yourself to see if there are overbid funds due you on our “Unclaimed Excess

Funds” list which is updated at the end of every month. The list is available on The Denver Public Trustee’s

website To see if your name appears on the list, just follow these steps:

Go to

Click on “Foreclosure & Auction Information” box in the left center side of the screen.

Click on “Auction Information” box in the middle of the screen.

Click on bottom blue bar in the middle of the screen labeled “Current List of Unclaimed Excess Funds.”

DCR4016 REV 11/5/2014

Excessive Funds Claim