Illinois Appellate Court
Civil Court
Mortgage Foreclosure
Defendant attempted to rescind mortgage by mailing a letter to mortgage company, which had filed foreclosure action after he stopped making mortgage payments. Defendant properly invoked rescission mechanism when he sent mortgage company rescission letter. Defendant's counterclaim related to mortgage company's failure to disclose certain information when loan closed is time-barred. To bring a time-barred counterclaim pursuant to Section 13-207 of Code of Civil Procedure, counterclaim must not have been time barred when cause of action forming basis of primary complaint arose.(SIMON and MIKVA, concurring.)