What Is an Asset Recovery Business?

An asset recovery business helps individuals or businesses identify and pursue money that may be owed to them.

At Hutch & Holmes, my specialty is surplus funds from mortgage and tax foreclosures.

When a property is sold through foreclosure, the sale may generate money beyond what is required to satisfy applicable debts, costs, or other obligations. Depending on the circumstances and state law, some of those remaining funds may be available to eligible claimants.

Many former homeowners may not realize that funds exist or understand how to pursue them.

That's where an Asset Recovery Advocate may provide a valuable service.

Your First Step

Before You Start Looking for Leads, Get Clarity.

One of the biggest mistakes aspiring Advocates make is spending months watching videos and collecting information without taking action.

You don't need to know everything before getting started. But you do need to understand the process and take your first step.

Your First Assignment:

Choose one county and state where you want to operate. Research how a homeowner or eligible claimant would pursue mortgage foreclosure surplus funds and tax foreclosure surplus funds.

Study the processes separately because the requirements may be different.

Learn what the claimant must find, complete, submit, and follow up on. Verify the information using official court, county, and state government sources.

Once you understand that process, you'll have a better idea of how your business can provide a useful and legally permitted service.