Cashing in on home sweet homeBy Helen W. GunnarssonApril 2008Lawpulse, Page 174Reverse mortgages are a popular, if controversial, way for elderly clients to cash in on the equity in their homes. Here's how they work and why you should be wary.
For New LawyersApril 2008Column, Page 215Is a co-signer entitled to a foreclosure notice?
Helping Clients Who Face ForeclosureBy Helen W. GunnarssonFebruary 2008Article, Page 76Notice of foreclosure creates a personal crisis for your home-borrower clients. Here's how to counsel them.
No reimbursement to marital estate for contributions to mortgage on marital residenceJanuary 2008Illinois Law Update, Page 16On October 29, 2007, the Illinois Appellate Court, Second District, affirmed an award of child support, vacated those portions of a judgment ordering reimbursement to the marital estate, and remanded the judgment for further proceedings in the Circuit Court of McHenry County.
Proceedings against foreclosure tenants amended. PA 095-0262January 2008Illinois Law Update, Page 16The Code of Civil Procedure has been amended to allow foreclosure tenants who are current on their rent to retain possession of their property for a designated period. 735 ILCS 5/15-1701.
Drafter bewareBy Helen W. GunnarssonDecember 2007Lawpulse, Page 622When it comes to drafting agreements for deed in lieu of foreclosure, you can’t be too careful.
Predatory Lending: The Continuing SagaBy James K. WestonOctober 2007Column, Page 554A new bill would redefine yet again the Illinois' anti-predatory-lending law.
The Mortgage Rescue Fraud ActBy James K. WestonJanuary 2007Column, Page 52This law, effective January 1, is designed to protect soon-tobe-forclosed landowners from a "rescue" scam.
Surpluses from foreclosure sales do not go to the purchaserJanuary 2007Illinois Law Update, Page 14On November 13, 2006, the Illinois Appellate Court, Second District, reversed and remanded the decision of the Circuit Court of McHenry County, holding the circuit court abused its discretion by distributing a portion of the surplus funds from a sheriff's auction to the winner of that auction.
Confidentiality rules created for predatory lending databaseNovember 2006Illinois Law Update, Page 584The Residential Real Property Disclosure Act (Act) required that the Department of Financial and Professional Regulation (Department) establish a database for its Predatory Lending Database Pilot Program (Database Program).
The Predatory Lending Database Has ArrivedBy James K. WestonOctober 2006Column, Page 560Illinois' anti-mortgage-fraud program debuted September 1. Will it fulfill its intended purpose?
Predatory Lending, Notary FraudBy James K. WestonApril 2006Column, Page 204Illinois' predatory lending law gets off to a slow start, and notary fraud arrives on legislators' radar screens.
Predatory Lending Database Pilot ProgramBy James K. WestonJanuary 2006Column, Page 44A well-intentional law armed at predatory lending puts title companies and lawyers at risk, the author argues
Anti-predatory-lending statute takes effect January 1By Helen W. GunnarssonDecember 2005Lawpulse, Page 614An amendment to the Real Property Disclosure Act will create a new predatory lending database. But some worry that it could unintentionally penalize good-guy lenders in targeted neighborhoods.
Mortgage Escrow Account Act expands "mortgage lenders" and notice requirements - PA 094-0050September 2005Illinois Law Update, Page 446On June 17, 2005, the Mortgage Escrow Account Act (Act) (765 ILCS 910/1 et seq) was modified from its original form so as to broaden the scope of "mortgage lender" to include savings banks, credit unions, mortgage bankers, and one who services the loan.
Don't Let Your Client Be Labeled a Predatory LenderBy Mavis W. KennedyNovember 2001Article, Page 595A review of federal and state predatory-lending laws, including new regulations from the Illinois Office of Banks and Real Estate.
High risk home loansJuly 2001Illinois Law Update, Page 342On May 17, 2001, the Illinois Office of Banks and Real Estate (office) adopted a new provision to section 345 of the Illinois Administrative Code. 38 Ill Adm Code 345.
Default and foreclosure rates on conventional loansMarch 2001Illinois Law Update, Page 116On December 15, 2000, the Illinois Office of Banks and Real Estate (OBRE) adopted emergency rules and amendments to sections 345, 1000, and 1050 of the Illinois Administrative Code.
The Lawyer's JournalBy Bonnie C. McGrathJanuary 2001Column, Page 10Standard of review for fee suits; U.S. Supremes just say no to drug-sniffing dogs at checkpoints; employee claims rejected by 7CA; and more.
Mortgage guaranty insuranceAugust 2000Illinois Law Update, Page 438On May 30, 2000, the Illinois Department of Insurance adopted emergency amendments to section 202 of the Illinois Administrative Code. 50 Ill Adm Code 202.
The Lawyer's JournalBy Bonnie C. McGrathJuly 2000Column, Page 378Grandparents lose at High Court—but how much? HMOs lose in one high court, win in another; and more.
New law protects consumers from predatory lenders ; P.A. 91-698July 2000Illinois Law Update, Page 380Public Act 91-698, which became effective when signed on May 6, is designed to protect Illinois consumers from predatory lenders by authorizing the Department of Financial Institutions and the Office of Banks and Real Estate to promulgate rules regulatin regulating the activities of lenders they license.
The Lawyer's JournalBy Bonnie McGrathJanuary 2000Column, Page 10Losing the right to a jury trial — is it malpractice?
