Money Ripples Podcast

Create Income & Do Good: The Overages Opportunity Explained

6 snips
Jun 16, 2025
Bob Diamond, an attorney and entrepreneur, dives into the fascinating world of the overages business, where individuals reclaim funds following foreclosure sales. He explains how many former homeowners miss out on money they didn’t know was theirs, with 72% of these funds going unclaimed. Bob outlines a simple step-by-step process to start this impactful business, ideal for retirees or part-time entrepreneurs. Learn how to navigate the current foreclosure landscape, leverage AI for efficiency, and create a model that blends profit with social good.
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INSIGHT

Hidden Overages in Foreclosures

  • When a house sells for more than owed after foreclosure, the extra money legally belongs to the former homeowner.
  • Most people don't know this, so 72% of these funds go unclaimed and revert to the government.
ADVICE

Claim Overages on Contingency

  • Use public records to identify potential overage claims and reach out to former homeowners.
  • Offer to help claim the overage money on a contingency basis; no fee if unsuccessful.
ANECDOTE

Flexible Business Model for Overages

  • Retirees or part-time entrepreneurs can do a few large overage deals per year to stay busy and earn income.
  • Some build full businesses with sales and claiming teams to scale the operation.
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