Board OKs mortgage tax lawsuit
SYCAMORE – The DeKalb County Board authorized the clerk and recorder's office Wednesday to file a class action lawsuit against mortgage companies Fannie Mae and Freddie Mac to recover unpaid taxes.
The county will likely be joined by other counties in the class action lawsuit as there are potentially millions in unpaid transfer taxes on real estate transactions from the mortgage companies, which DeKalb County Clerk John Acardo said wrongfully claimed government entity exemptions.
DeKalb County has lost out on more than $40,000 in the past five years, but the potential court winnings could be significantly more, Acardo said.
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