When a property goes through foreclosure (trustee’s sale) or tax sale in Georgia, if the bid at the foreclosure sale is more than the amount necessary to pay the debt on the property, the extra money is deposited by the foreclosing trustee with the county treasurer. These funds are referred to as “Excess Funds.”

The Georgia law sets forth the priority for who is entitled to the money. In general, the statutory scheme provides that the money goes first to Home owner associations, second lien holders (Home equity lenders typically), and then the homeowner.

Yes and no. If this property was your home at the time of the foreclosure, you are entitled to assert your “homestead” rights against the judgment lien holder, and you will get the money.

In many cases the second lien holder does not apply for the money. If the lien holder does not apply within the time frame allowed, then the court will award the money to you.

No. It just means that excess proceeds from the sale of your property have been deposited with the county treasurer.