Worksheet : 1. Introduction to Surplus Funds in the USA

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1. Introduction to Surplus Funds in the US

Lynne's VA Training | Worksheet co-created with Claude AI and Dennis Bayeng

📖 What Are Surplus Funds?

Surplus funds (also called excess proceeds or overage funds) are the money left over after a property is sold at public auction.

Key Definition:
When a foreclosed property sells for MORE than what's needed to pay off debts and expenses, the extra money belongs to the previous owner (ex-owner) or their heirs.

🔍 Two Types of Foreclosure

🏦 Mortgage Foreclosure

🏛️ Tax Foreclosure

💡 How Does This Work? (Step-by-Step)

1 Owner has debt (mortgage or property tax unpaid)

2 Property is foreclosed and sold at auction

3 Sale price covers debts and expenses

4 If there's excess → SURPLUS FUNDS!

5 Ex-owner (or heirs if deceased) can claim it

📊 Real Example - John's House:

• Original loan: $1,500,000
• Paid back: $500,000
• Remaining debt: $1,000,000
• Property sold at auction: $1,500,000
• Debt paid: $1,000,000
• Legal/auction fees: $100,000
• Total expenses: $1,100,000

SURPLUS = $1,500,000 - $1,100,000 = $400,000 ✅

John can claim this $400,000!

Surplus Funds Worksheet - Page 2

✍️ Reflection: Understanding the Concept

In your own words, explain what surplus funds are:

Why do you think ex-owners don't always claim their surplus funds?

💼 How to Earn as a Researcher

💰 Three Ways to Earn:

1️⃣ Invite Partners

Earn ₱500 for every researcher you refer

2️⃣ Research & Submit Files

Earn ₱5,000 - ₱80,000+ per signed contract

3️⃣ Researcher Group Funds

Submit 20+ files monthly → Earn even if contracts aren't signed!

💡 Partner Program (4 Ways to Earn)

Refer Partners: ₱1,500 per referral

Refer Researchers: ₱500 per referral

Override Commission: 10% of your researchers' earnings

Be a Researcher: 8% commission (₱7,000 - ₱125,000+ per file)

🎯 Personal Goal Setting

What excites you most about surplus funds research?

What income goal would you like to achieve monthly?

Which earning path interests you most? (Circle one)

Researcher   |   Partner   |   Both

Surplus Funds Worksheet - Page 3

🛠️ Your Action Plan Workshop

Use this pause in your learning journey to prepare for success:

Watch all training videos (Introduction, How to Start, How to Submit Files)

Read the e-book carefully and take notes

Understand the criteria for properties with surplus funds

Learn where to find foreclosed properties

Practice identifying properties sold at auction with excess proceeds

Set up your workspace and research tools

Connect with other researchers for support and tips

Set weekly goals for file submissions

📝 Key Terms to Remember

Ex-owner: Previous property owner after foreclosure

Sheriff's Deed: Document transferring ownership

Public Auction: Where foreclosed properties are sold

Heirs: Family who can claim if ex-owner is deceased

🌟 Your Next Steps

What is ONE thing you will do TODAY to move forward?

What questions do you still have about surplus funds?

🌱 AFFIRMATION 🌱

"I am building valuable skills in surplus funds research.
Every step I take brings me closer to financial freedom.
I am committed to learning and growing in this opportunity."

Remember: This is just the beginning! Watch the next videos to learn WHERE and HOW to find properties with surplus funds. 🚀

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