Foreclosure FAQs

FAQs

• I'm in foreclosure - how does Realty Engagement help?

  • First - let us be completely (and some would say brutally) honest. We are not here to help you stay in your home. We're sure you are getting contacted by many companies who are offering that. We hope you can work with one of them to make a deal that meets your needs, but again - that is not us.
    
    

  • Every month we see folks were not able to work out a plan with the lender to stay in their home or sell it on their terms and the property goes up for public auction. When that happens that is where we come in. If your property does go up for public auction, is try to get money back for you.
    
    

• Why would I get money back from a foreclosure?

  • Many properties that sell at public auction sell for more then what the lender is owed. The lender DOES NOT get to keep that extra. It is to be given to the (unwilling) seller who is now the former owner. However that often does not happen unless you make a claim for it.
    
    

• How does a claim get made?

  • Again let us be very (brutally) honest - since it is your money you can make the claim yourself - you don't actually need us (or any agency). However there is paperwork to file, fee's for filing, and sometimes an attorney need to be involved also. If you can afford that then you can make the attempt yourself. If not though, we're here to take care of that for you (including paying the fee's up front for you - including an attorney if needed) and those fee's are absorbed into the recovery fee (you are not additionally back charged for them).
    
    

• How much does Realty Engagement charge?

  • We wont lie - its not cheap, but it is a percentage commission so you can never owe more then the recovery amount and you never pay anything up front. Our commission is taken out of the recovery.

    • We charge 30% of the recovered money for anything above $30,000

    • We charge 50% of the recovered money for anything below $30,000
      
      

• What is needed to move forward with Realty Engagement managing this process?

  • Paperwork, paperwork, paperwork. We'll need to get you to sign a contract with us and some other legal papers so we can act on your behalf in this limited capacity.
    
    

• What is the time frame for recovery of money?

  • This is generally a court managed process. As such it is typically slow. You should set your expectations at a minimum of 3 to 6 months and likely longer.
    
    

• THIS SOUND LIKE A SCAM!!!

  • We ask – what is the scan? We don’t charge any fee up front, and the property is going to foreclosure anyway. How would we benefit from any scam here?
    
    

• Still have questions (...we would)?

  • Fill out the contact form and we'll reach out for a time to talk further.
    
    Notification of interest form (not a contract, no obligation, just an authorization for us to contact you)