Anh Davies - Principal and Managing Member
Dan Davies - Claims manager
Asset Recovery Services (“ARS”) has focused on the changes that have taken place in our financial markets. Financial assets were lost or misplaced because of corporate mergers, acquisitions, name changes, asset sales, bankruptcies, FDIC takeovers/shut downs.
The property was sold at the Auction with the Plaintiff being the 1st mortgage holder.2: Surplus Calculation
After the foreclosure auction, the surplus balance of $40,000.00 was placed in Court Registry.3: Title Research
Our title search showed 3 parties eligible for the surplus: the 2nd mortgage holder, the HOA and the Homeowner.4: Examination - Determine Priority of Liens
1. The 2nd mortgage has the highest priority of lien right but did not positively respond to the foreclosure action.
2. HOA answered the foreclosure action and had timely filed its claim.
The 2nd mortgage holder has a highest priority of lien right but did not answer to the foreclosure action. If the 2nd mortgage claim is “NOT TIMELY FILED”, only the remaining two parties could petition for the surplus. Leaving the Homeowner as the sole beneficiary of the surplus after deducting any HOA’s claim.
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3440 Hollywood Blvd., Suite 415
Hollywood, FL 33021