Clerk’s Office Sets Up Online Portal for Confidential Access
to Mortgage Surplus Funds List
Chicago (TODAY) – The Honorable Dorothy Brown, Clerk of the Circuit Court of Cook County, Illinois,
says that her Office has “the silver lining to the dark cloud of mortgage foreclosure crisis” in the form of millions of dollars available for individuals through Mortgage Foreclosure Surpluses.
“The mortgage foreclosure epidemic of recent
years has been devastating,” said Clerk Brown. “However, I am eager to inform people who lost their homes to foreclosures in Cook County that some of them have thousands of dollars being held for them.”
The Clerk’s Office is currently holding approximately $16.1 million in Mortgage Foreclosure Surplus Funds, comprised of various amounts, which are due to over 1,900 people. A Mortgage Foreclosure Surplus is the profit owed to an individual who foreclosed on a home that was subsequently sold at a dollar amount over what was owed to the bank at the time of foreclosure. With cases dating back to the 1990’s, the Clerk’s Office has compiled the names of individuals who have surpluses owed to them as high as $460,000.
Clerk Brown is launching an outreach campaign and hosting an online search engine, “Mortgage Surplus Search,” on the Clerk’s Office Website (www.cookcountyclerkofcourt.org) in an effort to locate the people in Cook County who are owed these Mortgage Surplus Funds. The search engine will allow citizens to enter their first initial and last name to see if they are on the surplus list. If an initial match is made, additional screens open up with directions to the court forms necessary to file a motion, petition for the turnover of the surplus funds, and file an appearance with the presiding judge. Also at the portal are answers to frequently asked questions about obtaining a mortgage surplus.
“In the midst of our nation’s current economic crisis, some people who have lost their homes have financial windfalls being held for them, and I want to inform them about how to obtain the money,” said Clerk Brown.
Interested persons may also visit the Accounting Department of the Circuit Court Clerk’s Office to obtain information about the Mortgage Surplus Funds.