The extra money is called surplus funds. The bank is only entitled to what is owed to them and their fees. The surplus, minus any liens due, belongs to you. If there are surplus funds, you should be notified by the foreclosing attorneys for the bank. The court will determine if the Clerk's Office or Sheriff's Office will hold the funds.
Unfortunately, there are no remedies available for tenants living in foreclosed homes. However, tenants can file for an extension of time to allow for relocation. The tenants must file a motion to request an extension before the judge assigned to the case.
To claim a surplus, you must file a motion to appear before the Presiding Judge of the Chancery Division and obtain a court order to have your funds released. The order must be submitted to the office holding the surplus funds (i.e., Clerk's Office or Sheriff's Office). This office will then process the order, which takes approximately ten business days for the surplus funds to be released.
Yes, the property can be sold until the end of the redemption period, which is established in the Judgment of Foreclosure. However, sometimes it can still be sold after the redemption period with the court's permission.
Chancery Division files can be reviewed in the Richard J. Daley Center, 50 W. Washington St., Room 802, Chancery Division. Proceed to Sign #6 - Court File Requests.
If you want to request a document(s) to be certified, please visit Richard J. Daley Center, 50 W. Washington St., Room 802, Chancery Division along with the case number at the Court File Request Counter - Copies, Certified, Microfilm, Transcripts.
An application for leave to sue or defend as a poor person must be obtained in the Chancery Division, Room 802, in triplicate and shall be in writing and supported by the affidavit of the applicant or, if the applicant is a minor or an incompetent, by the affidavit of some other person having knowledge of the facts.