Surplus Fund founder Spencer J. Vann says it's not about seeking more info; it's about getting the right information and putting it in the right sequence. “I've spent a large number of hours studying this stuff,” he says. “Probably countless amounts of hours. It's not an exaggeration. Like I've read a huge selection of books. I've had the ability to meet up lots of really amazing people. People which are next level. And I've been around folks who are the opposite, right?”
“And where this all started was, I grew up in a household making $60-, $70k per year,” Spencer continues. “So I don't originate from a household of millionaires or billionaires or anything like that. My dad's literally a high school dropout. So I grew up in type of a bad environment. And I've gone from that to the best month of my life up to now; I made $4.8 million dollars last month. That is the same of 68 years of my dad's annual income. That is just stupid, right? Like that's just stupid to think about.”
The Surplus Recovery Process
Those who didn't watch the webinar and just want short and sweet version, Surplus Funds is what it really sounds like.
When a homeowner defaults on the mortgage (stops making payments) and continues to not make payments, eventually it adopts foreclosure when they can't work out a deal with the bank.
There are lots of reasons as to the reasons a homeowner may stop making payments… for reasons uknown, it doesn't really matter.
Let's say the homeowner has been making payments on the for the last 10 years. Loans have already been paid down a bit. Along with making payments every month, their home in addition has increased in value in the last 10 years. There's now $100,000 equity in this home.
The house is worth a lot more than what's 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 due to credit issues. They are embarrassed and don't want their friends to know they are struggling so they do not try to sell.
The house adopts foreclosure and eventually is sold on the auction block. Remember, they have $100K equity in this home.
Conclusion
Here's the reality of surplus funds.
It's exciting and may give someone huge paydays. However, it's extremely competitive and there are really merely a few areas worth going into. Those areas are saturated in attornies and people already established doing the same thing. It sounds easy, but it's not. Most of these recovery agents have already been established in the area for years and it will take lots of time and work and you have to really have the right team in place to even ensure it is work. It's better to team up by having an attorney if you can. Glen Arnell, a specialist in surplus funds and a buddy, who has been carrying this out for days gone by decade, when he says it's tough, it's tough!
I'm not attempting to discourage, I'm being honest and upfront saying it's not for everyone https://scamrisk.com/spencer-j-vann/.
