Section Newsletter Articles on Foreclosures

Boring but useful tools: Prerequisites to filing for foreclosure under federal mortgage programs By Eric Sirota Administrative Law, June 2017 The tools with which Bankers Life v. Denton provides to foreclosure defense attorneys extend beyond defending against the foreclosure of FHA loans
Sheriff sale purchasers keep the property despite void judgment of foreclosure and sale By Robert Handley and Grzegorz (Greg) Czubernat Commercial Banking, Collections, and Bankruptcy, August 2016 The case of U.S. Bank N.A. v. Rahman reminds us that when serving a defendant in Cook County, no matter where the case is pending, service of process must be effectuated by the Cook County Sheriff, unless the court appoints a special process server.
When defense is offense: Burdens of proof in mortgage foreclosure trials By Michael G. Cortina Commercial Banking, Collections, and Bankruptcy, August 2016 Despite the scant amount of published decisions on the topic, the only Illinois decisions pertaining to the proof required in mortgage foreclosure cases state that the mortgagee merely needs to offer the note and mortgage into evidence in order to prove its prima facie case.
My first 10 steps in foreclosing a mortgage By Lawrence O. Taliana Commercial Banking, Collections, and Bankruptcy, May 2016 Over the course of his career, author Lawrence Taliana has worked to develop a step-by-step procedure for foreclosing on real estate.
Will the real party plaintiff please stand up? Toward a sane foreclosure process: Substitution of party plaintiff, the transfer of Interest, and Implications on Standing By Stephanie Bowman Arsenty Commercial Banking, Collections, and Bankruptcy, May 2016 The author provides some scenarios in which defendant borrowers are prejudiced under 735 ILCS 5/2-1008, and proposes changes to promote fairness in the foreclosure process.
Second District provides recapture rights not subject to foreclosure By Michael J. Smoron Local Government Law, March 2016 F.R.S. Development Company, Inc. v. American Community Bank and Trust clarifies the nature of recapture rights and has implications for municipal counsel when dealing with recapture issues.
When worlds collide—Condominium law vs. foreclosure law and 1010 Lake Shore Association v. Deutsche Bank National Trust Company By Joseph R. Fortunato Real Estate Law, February 2016 The saga of the case of 1010 Lake Shore Association v. Deutsche Bank National Trust Company has come to a conclusion of sorts as a result of the opinion filed December 3, 2015 by the Illinois Supreme Court.
Can dedicated property subject to a mortgage in default be subject to a foreclosure action? By John H. Brechin Local Government Law, September 2015 Plaintiff Republic Bank of Chicago filed two separate complaints against multiple defendants to foreclose on roads and outlots contained in two failed subdivisions located in the Village of Manhattan.
Foreclosure mediation has expanded to many parts of Illinois By Hon. Michael Jordan Bench and Bar, June 2014 Even though foreclosure filings have declined over the past year or so, there remain nearly 50,000 pending residential and non-residential foreclosures pending in Cook County alone.
Foreclosure mediation has expanded to many parts of Illinois By Hon. Michael Jordan Alternative Dispute Resolution, May 2014 The Cook County Circuit Court has created a mediation process to aid the assigned judges in addressing the legal, factual, and emotional issues facing tens of thousands of people being brought into court.
Practice alert: Concurrent and/or consecutive lawsuits can be maintained for both a mortgage foreclosure and on the note securing the mortgage By Lisa A. Copland General Practice, Solo, and Small Firm, May 2014 On February 14th of this year, the Illinois Supreme Court denied the review of Laura J. Turczak, et al., v. First American Bank, et al., resulting in First American Bank’s victory over a commonly held belief affecting the rights of lenders in mortgage foreclosure actions.
The demons of consent foreclosures: What every bank should know By Amber L. Michlig Commercial Banking, Collections, and Bankruptcy, April 2014 An examination of the process of consent foreclosures and the roadblocks and warnings that an Illinois bank client should be familiar with when considering a consent foreclosure in order to fully protect their interests.
Developing a game plan for residential foreclosures By Ebony R. Huddleston General Practice, Solo, and Small Firm, March 2014 Illinois has one of the longest residential foreclosures processes in the country. Residential foreclosures can be a complex maze for practitioners and homeowners to navigate. For that reason, it is important to develop a game plan before proceeding to file a foreclosure complaint so practitioners can anticipate potential pitfalls the lender may encounter by pursuing the foreclosure action.
Nevada Supreme Court protects confidentiality in foreclosure mediation By Brandon Sarkauskas Alternative Dispute Resolution, March 2014 Not only does the recent decision by Nevada’s Supreme Court affirm the confidential nature of the foreclosure mediation program, but it offers reassurance of confidentiality to others who may be interesting in pursuing mediation resolutions for other conflicts as well.
Cypress Creek decision legislatively reversed By Paul Peterson Commercial Banking, Collections, and Bankruptcy, July 2013 When all is said and done, it is likely that after PA 97-1165 (signed February 11th of this year), construction lenders will be more cautious in their construction lending and will charge an increased interest rate to cover the increased risk of additional mechanics lien losses in Illinois.
When is a surety not a surety: Clearing up the confusion of self-issued replevin bonds By Stephen J. Butler Commercial Banking, Collections, and Bankruptcy, July 2013 This article will first give a brief overview of actions in replevin without notice, and will then argue that a plaintiff may validly issue its own replevin bond.
Under Illinois law, what constitutes a lack of standing in mortgage foreclosures? By Steve Caravajal Real Estate Law, March 2013 Despite the fact the “lack of standing” is one of the most often asserted defenses in foreclosure proceedings, there are only a handful of recent appellate opinions which have addressed this ubiquitous issue. This article offers a look at one of the most recent opinions, Deutsche Bank Nat’l Trust Co. v. Gilbert, and discusses the effect it is likely to have or should have in foreclosure proceedings to come.
Foreclosures and real property tax valuation revisited: Continuing challenges and responses By Thomas A. Jaconetty State and Local Taxation, October 2012 A look at the complex issues involved in determining market value of real property in the current economic environment without comprising the principles of appraisal and valuation of real property.
How to create a (legal) hornet’s nest By Hon. E. Kenneth Wright, Jr. Bench and Bar, October 2012 Deutsche Bank v. Brewer involves service by publication in a Cook County foreclosure case.
How do foreclosures affect real property tax valuation? And what can we do about it? By Thomas A. Jaconetty State and Local Taxation, May 2012 Some insight to help us find within our commonly-accepted principles a framework for confronting the challenges of a depressed economy and a national real estate market under severe stress.
The not-so-“personal” means of obtaining a personal deficiency By Hon. Jesse G. Reyes and Abigail Sue Bench and Bar, May 2012 An exploration of the basis for the Metrobank v. Cannatello trial court’s interpretation and application of the Illinois Mortgage Foreclosure Law.
Taking deficiency judgments in foreclosure By Stephen J. Butler Commercial Banking, Collections, and Bankruptcy, July 2011 A discussion of the legal standard for entry of a deficiency judgment and a look at the common roadblocks used by courts in denying them.
Foreclosure mediation met with mixed feelings By Whitney Rhew Alternative Dispute Resolution, April 2011 It appears that efficient programs with “quick” answers for borrowers and high participation rates will be most successful.
The role of the Special Representative in foreclosure following ABN AMRO By Donald P. Shriver Real Estate Law, January 2011 As a result of ABN AMRO, if the foreclosure involves the estate of a deceased mortgagor, a Special Representative must be appointed for “purposes of defending the action” where no letters of office have been filed for the deceased’s estate.
Foreclosure growth fuels mediation growth in Illinois By Whitney Rhew Alternative Dispute Resolution, October 2010 As of August 1, 2010, lenders must now attend mediation with the homeowner and a third-party neutral before proceeding with foreclosure in Will County.
Easing the mortgage foreclosure crisis: A proposed Part 18 to IMFL Commercial Banking, Collections, and Bankruptcy, December 2009 To state the obvious, the number of home foreclosures in Illinois has reached a critical stage. The purpose of this article is to suggest an approach that might ease the situation with respect to some of those foreclosures. 
Negotiating Loan Modifications for Clients By Tracie R. Porter and Michael W. van Zalingen Real Estate Law, June 2009 Homeowners need to know options are available when they find themselves having difficulty paying their mortgage. Whether the assistance comes through the lender/servicers or the federal government, homeowners need to know when to stay in the game and keep their homes, and when to count their losses and move out of a bad situation. Attorneys who are equipment with the information to help their clients will find that they can still provide real HOPE for continued home ownership for their clients.
An examination of lease subordination issues in an economic downturn By David J. Alexander Real Estate Law, April 2009 If negotiating a lease as a tenant, tenant’s counsel or tenant’s broker, be certain that the basic language regarding subordination, non-disturbance and attornment is present and clearly stated so as to ensure that the tenant is adequately protected.
Household Bank v. Lewis—The Illinois Supreme Court addresses the foreclosure crisis By Kristine Speck Bench and Bar, August 2008 The mortgage foreclosure rate in Illinois and nationwide has been a topic of concern since the real estate market began declining in 2005.
Private sales after mortgage foreclosure sales—An update By Jeffrey G. Liss Commercial Banking, Collections, and Bankruptcy, August 2008 The Illinois Supreme Court appears to have resolved a conflict between appellate districts as to the permissibility of private foreclosure sales consummated after a mortgage foreclosure sale but before confirmation of that sale.