New rules to govern Illinois foreclosures
February 22, 2013
The Illinois Supreme Court on Friday announced new rules governing mortgage
foreclosures that will require lenders to prove to judges that they have
exhausted all efforts to help a borrower before seeking a foreclosure
judgment against the homeowner.
The rules, first reported by the Chicago Tribune, are designed to better
inform and protect the tens of thousands of Illinois homeowners still at
risk of losing their homes to lenders six years after the local housing
market's bubble burst.
- See more at: http://articles.chicagotribune.com/2013-02-22/business/ct-biz-0222-mortgage-rules--20130222_1_illinois-foreclosures-mortgage-servicers-foreclosure-process#sthash.ajeOOebD.dpuf
