What are Surplus funds?
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Money remaining after all liabilities, including taxes, insurance, and operating expenses, are paid. Having surplus funds means that a company has made a profit or perhaps that it has completed a project under budget.
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Explanation:
Surplus Funds are proceeds generated from the sale of your home at a sheriff's sale*. If your home is sold for more than what you owe on your mortgage and for taxes, you may be entitled to Surplus Funds, which in some cases could total thousands of dollars.
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