Milan CM Research
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Primer
Surplus equity, explained
After foreclosure assets are the right to recover surplus equity: the money left when a foreclosed property sells for more than is owed against it.
By law, that surplus belongs to the former owner. It is held by a court, a trustee or a state program until it is claimed. Most of it never is. Former owners have moved, do not know the money exists, or cannot navigate a process that runs through more than 3,000 counties with no central system.
Milan CM acquires the right to the surplus from the verified former owner, files the claim in the correct venue and carries it to an order releasing the funds. Investors purchase amounts in packages of these claims.
What it is not
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No. 02