Surplus Fund Mastery Review – Spencer Vann

Surplus Fund Master – Spencer Vann, reveals the dirty little secrets to claiming money for homeowners who don’t even know it’s there… Is this legal? Is this even a real thing? Are there really MILLIONS of dollars in money that goes unclaimed? Let’s jump deeper into this unique strategy and discover the truth about surplus funds…

Surplus funds is not a new concept or strategy. While it may or may not be new to you, you may also know it as Overages, Tax Sale Overage, Surplus Recovery, Tax Sale Surplus, Unclaimed Funds from Tax Sale, Mortgage Surplus … I could on and on the different names people have used to describe this strategy.

So what exactly is this strategy and how does it work…

Well if you watched the webinar, Spencer did a good job explaining how the process works.

The Surplus Recovery Process

Those who didn’t watch the webinar and just want short and sweet version, Surplus Funds is exactly what it sounds like.

When a homeowner defaults on their mortgage (stops making payments) and continues to not make payments, eventually it goes into foreclosure if they can’t work out a deal with the bank.

There are many reasons as to why a homeowner may stop making payments… for whatever reason, it doesn’t really matter.

Let’s say the homeowner has been making payments on their mortgage for the last 10 years. Loans have been paid down a bit. Along with making payments each month, their home has also increased in value in the last 10 years. There is now $100,000 equity in this home.

The home is worth more than what is owed to the banks…

The homeowners now fall on hard times, lose their jobs, get a divorce, whatever the case and they can’t refinance because of credit issues. They are embarrassed and don’t want their friends to know they are struggling so they don’t try to sell.

The home goes into foreclosure and eventually is sold on the auction block. Remember, they have $100K equity in this home.

The home sells at auction. An investor buys the home at a discounted price from the auction.

The foreclosure laws state that if there are any “additional” funds or Surplus Funds available from the sale of the house after all lien holders are paid (mortgages from banks, liens, etc.), those Surplus Funds rightfully go the homeowners.

It’s basically as if the homeowner sold the house. They get to keep all the proceeds from the sale after paying everyone off to clear title to the home.

So let’s say in our example, even though the investor buys the house at a discount, we learn that there is in excess $50,000 after everyone is paid off. This “Overage” or “Surplus” should go directly to the homeowner.

Here’s what’s crazy…

The attorney in the county in which the auction was held, who sold the home, generally does nothing to notify the homeowner of this surplus when there is one. And most homeowners have no idea they are even entitled to this money.

So you can imagine when the homeowner gets a phone call saying they have money waiting for them. Most of them are in disbelief and think it’s a scam.

This is one of the reasons why it’s so important to know what to say and how to say it. Because if you say the wrong thing, they will never believe you.

Surplus Fund Mastery Outline

What Spencer Vann has done is put together a program that teaches how anyone can make money with Overages. There are a lot of “little” details which a lot of training programs leave out.

Here is a quick outline of the program?

– 6-Week Surplus Fund Masterclass
– Surplus List Lead Site Access
– Access to their Facebook Group Coaching Page + Group Coaching Calls with Spencer, David, and Rick
– Surplus Fund Expert Scripts (phone, email, direct mail, and more)
– Surplus Fund Expert Contracts
– Surplus Warrior Marketing Plan

There are specific steps one must take in this business, and Spencer, I feel has done a good job walking students step by step through this process. He’s created a very specific checklist of what to do and the order in which to do it.

All you have to do is follow the steps.

Surplus Funds FAQ

1) Does the program tell you where and how to obtain the list?

Yes. There are certain states that are far better for these Surplus Recovery Lists. Some states not as good. Good news is that it doesn’t matter which state you live in, you can do this from home, if you have the right team in place. There are even phone scripts you can use to request these lists.

2) Do you have to pay for the list?

No. You can obtain these lists from the county. They are public record.

3) After obtaining the list, how do you find the person to call?

This is a great question. After you have sifted through the list (some of these lists are extremely large, so you’ll need to know what to look for) there are a few different ways to find the original homeowner. Obviously, they don’t live where they used to. Social media has proven to be an extremely useful tool. There are other resources as well which are explained. Last resort is a skip trace, and probably most effective.

4) Once you find the person, what do you say to them?

This is all explained in the training. There are even scripts for all this. You just want to let them know who you are, that you are a professional, and that you are helping them get back what is rightfully theirs.

5) Does the program have the proper documents you need to use?

Yes. All the documents you need are included in this training.

6) Are there any other fees incurred after purchasing this program?

Yes. There are going to be fees. Each state will have different fees associated with the filing. Those fees are extremely small. But as far as fees from Spencer, I don’t believe so. The program is complete.

7) How long does the entire process take?

It depends on the state. In some states, the courts have built-in delays to ensure that any other party that may have a claim on the surplus is notified. If this is the case, it could take 2-3 months. This is one of the reasons why you may want to consider doing this in multiple states or have multiple deals going at one time.

Our Conclusion

Here’s the reality of surplus funds….

It’s exciting and can give someone huge paydays. However, it’s extremely competitive and there are really only a small number of areas worth going into. Those areas are full of attornies and people already established doing the same thing. It sounds easy, but it’s not. Most of these recovery agents have been established in the area for years and it takes a lot of time and work and you have to have the right team in place to even make it work. It’s best to team up with an attorney if you can. Glen Arnell, an expert in surplus funds and a friend, who has been doing this for the past decade, when he says it’s tough, it’s tough!

I’m not trying to discourage, I’m being honest and upfront saying it’s not for everyone.

Turnaround time is +90 days. Look, if there is a 90-day 100% money-back guarantee, you have nothing to lose. But Surplus Funds is not for the faint of heart.