When a Georgia home is sold at foreclosure for more than what's owed on the loan and the costs of the sale, the leftover money is called surplus funds or excess proceeds. The lender doesn't get to keep it. After the loan, the costs and any other liens are paid, the rest belongs to the former owner.
General information, not legal advice. GA Asset Recovery Advocates is not a law firm. Laws and county procedures change, so check the current rules with the office holding the funds or a Georgia attorney before you act. Last updated October 13, 2026.
Most Georgia foreclosures don't go through court. The security deed (Georgia's version of a mortgage) gives the lender a "power of sale," and the lender sells the property at a public auction on the courthouse steps. Sales are held on the first Tuesday of the month between 10 a.m. and 4 p.m., and the lender must send the borrower notice at least 30 days before the sale (O.C.G.A. § 44-14-162.2, § 9-13-161).
The sale money is generally applied in this order, following the security deed and Georgia law:
Georgia law says "the surplus shall be paid to the mortgagor or his agent" (O.C.G.A. § 44-14-190), and Georgia courts have held that a lender selling under a power of sale must account to the borrower for any surplus. If the former owner has died, the money belongs to their estate (see our guide for heirs).
Don't count on it. Georgia law doesn't currently require lenders to send a specific notice about surplus funds. A 2026 bill that would have required one (HB 948) passed the House but didn't become law. Many former owners never learn that money was left over.
The surplus is usually held by the foreclosing lender or its law firm. The foreclosure notice you received and the sale advertisement in the county's legal newspaper usually name the law firm that handled the sale, so that's the place to start.
If more than one party claims the surplus, or the holder isn't sure who is entitled, it can pay the money into superior court and ask the court to decide. This is called an interpleader. The holder's court costs and attorney's fees can be paid out of the surplus, so a contested claim can shrink the amount you receive.
Don't wait. Money that sits unclaimed is generally presumed abandoned after five years and reported to Georgia's unclaimed property program. You can still claim it from the state after that, but it's slower. You can search Georgia unclaimed property for free at gaclaims.unclaimedproperty.com.
Yes. You don't have to hire anyone to claim money that belongs to you, and the office holding the funds generally doesn't charge a fee to file. Some claims are simple. You may still pay for things like notarizing documents, getting certified records, or, in some counties, a title search.
Where claims go wrong is usually the paperwork. A form filled out for the wrong party, a missing notarization, an ID that doesn't match the records, or heirs who haven't documented their relationship can send a claim back to the start. If the holder isn't sure who is entitled, it can ask a superior court to decide, and that adds months.
Our job is to help you get the claim right the first time, so you don't lose time to delays from the wrong process or the wrong documents. We can't promise that a claim will be approved or how much will be paid; those decisions belong to the office or court holding the funds. What we do:
Our fee is contingency only. There is no upfront cost. Our fee is a percentage of what is recovered, agreed with you in writing before any work starts, and if nothing is recovered you owe us nothing.
Letters about surplus money can be legitimate, but scammers copy them. Before you sign anything with anyone, including us:
Think you may be owed money from a Georgia sale?
Call us at (404) 999-3532 or email Support@GaAssetRecoveryAdvocates.com. There is no upfront cost, and we'll tell you honestly whether you'd be better off filing yourself.
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