Cook County Continues Sitting On Million$ In Unclaimed Foreclosure Surplus Funds

In Chicago, Illinois, WFLD-TV reports:

• If your house has been foreclosed on, believe it or not -- you may have some money coming to that you don't know about. The Cook County Circuit Court Clerk's office has a list of former homeowners who are owed what's called a mortgage surplus. "We have money for you, and we want to give that money to you," Dorothy Brown, Cook County Circuit Court Clerk said. "Our list goes from 13 cents to $461,000 dollars."

• The mortgage surplus is the amount left over when a foreclosed home is auctioned off and sold for more than you owe. Once the bank is paid off, the rest is yours. Cook County has more than $19 million in unclaimed mortgage surplus funds. The problem is finding foreclosed home owners. Legally, the auction company has to mail out a letter. But the address they have for foreclosed homeowners is usually the house that's just been foreclosed.

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• The Cook County Circuit Court clerk's office is also making an extra effort. They recently added a special search engine where you can check on their web site. If you find your name on the clerk's website, you have to file for a court appearance and prove to the judge you are the person on the foreclosed mortgage.

• Dupage and Will Counties also have mortgage surplus funds. If you live in one of those counties, call the Circuit Court Clerk's office or the Sheriff's Department there to see if you are owed this type of money.

For the story, see Millions In Unclaimed Foreclosure Cash For Cook County Residents.

See also, WLS-TV Channel 7: Clerk: $18M due to foreclosed homeowners:

• The clerk's database found about 1,900 people are due surplus money. The surpluses mostly involve foreclosures from the 1990s and not the recent subprime mortgage collapse.