0 minute readThe Illinois Supreme Court announced Monday that new mortgage foreclosure rules will take effect May 1, and borrower outreach requirements will apply to all cases that have not received judgments, regardless of when they were filed.
Before seeking a foreclosure judgment against a borrower who has appeared in court or filed documents in the case, a lender will have to file an affidavit with the court showing the types of loan modification or other programs available for an individual borrower, what steps were taken to offer that help and the status of those outreach efforts.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!see full bio
