Investigating the Issues That Affect You Most

Foreclosed Upon? You May Be Owed Money

Roughly $16 million in mortgage foreclosure surplus funds are sitting with the Clerk of the Circuit Court of Cook County

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    It's not every day that government aims to give money back to people, but that's the hope under a new task force announced Thursday.

    It's not every day that government aims to give money back to people, but that's the goal under a new task force announced Thursday.

    Roughly $16 million is currently being held by the Clerk of the Circuit Court of Cook County. It's money that's accumulated from properties which have been foreclosed upon and then sold for more money than what's due the lender.

    "We know that these are emotional times for individuals, when they lose properties, so we want to ensure that they understand that when they lose their property, they have not lost all of their rights," said Cook County Circuit Court Clerk Dorothy Brown.

    Homes Held Hostage in Foreclosure Battles

    [CHI] Homes Held Hostage in Foreclosure Battles
    As if foreclosure isn't bad enough, now many homeowners find themselves stuck -- victims of a process so confusing and complicated -- that even their homes are held hostage for years.

    The newly-formed Mortgage Foreclosure Surplus Fund Task Force aims to find the 1,944 individuals who are owed money.  The funds date back to the early 1990s, said Brown.

    One person is due $460,000, she said.

    Emanuel Announces Foreclosure Initiative

    [CHI] Emanuel Announces Foreclosure Initiative
    With the help of $20 million in loans, nine Chicago neighborhoods dealing with a high rate of foreclosures will get special attention.

    Members of the task force include Brown, Cook County Assessor Joe Berrios, Recorder of Deeds Eugene Moore, State Treasurer Dan Rutherford and the Chicago Mayor’s Office.

    A searchable database is online for residents to check if they're owed money. Those interested in more information about the Mortgage Foreclosure Surplus Funds may also call the Clerk’s Office Chancery Division at 312-603-5133.

    Answers to frequently asked questions about obtaining a mortgage surplus are also available.

    Cook County Clerk of the Circuit Court: Mortgage Foreclosure Surplus Search