Parkway Bank and Trust Company v. Korzen

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2013 IL App (1st) 130380
Decision Date: 
December 16, 2013
District: 
1st Dist.
Division/County: 
Cook Co.,1st Div.
Justice: 
DELORT
Holding: 
Affirmed.
(Supplemental opinion added 12/16/13.) In mortgage foreclosure of vacant lot, debtors attacked deficiency judgment stemming from court's confirmation of sale. Inability of borrower to repay has no bearing on whether sale should be confirmed, absent any showing that sale price was unconscionable. A land patent does not protect borrowers' interest in the real estate. Bank is entitled to attorney's fees, per fee-shifting provision in mortgage and note, and also fees for appeal. Appellate Court imposed Rule 375 sanctions of $10,000, later reduced to $5,000, as appeal was frivolous and filed to harass and unduly delay and increase cost of litigation. Court granted petition for attorney's fees for appeal, and found fees of $23,432 to be reasonable. (CONNORS and CUNNINGHAM, concurring.)