You have rights in foreclosure

"Illinois law recognizes the breach of an applicable HUD regulation as a defense in an action for foreclosure of a federally insured mortgage." 

Hayes v. M & T Mortg. Corp., 389 Ill. App. 3d 388, 391-392 (1st Dist. 2009)

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“‘Under the Truth in Lending Act, 82 Stat. 146, 15 U.S.C. § 1601 et seq., when a loan made in a consumer credit transaction is secured by the borrower's principal dwelling, the borrower may rescind the loan agreement if the lender fails to deliver certain forms or to disclose important terms accurately.’"

Wells Fargo Bank, N.A. v. Terry, 2010 Ill. App. LEXIS 251 (1st Dist. 2010)

April 9, 2009 New Illinois Foreclosure Law

 § 735 ILCS 5/15-1502.5.  Homeowner protection

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(b) Except in the circumstance in which a [homeowner] has filed a petition for relief under the United States Bankruptcy Code, no [lender] shall file a complaint to foreclose a mortgage secured by residential real estate until the requirements of this Section have been satisfied.

CHICAGO FORECLOSURE LAWYERS

Borden Law Firm, P.C.
118 N. Clinton Street, Suite 100
Chicago, Illinois 60661
Phone: (312) 234-9434

KNOW YOUR RIGHTS
DISCUSS YOUR OPTIONS
CALL (312) 234-9434





The Borden Law Firm helps homeowners in foreclosure. 

Banks have been wrongly foreclosing homeowners — you might be a victim. 

Call to discuss your rights and whether you can stay in your home longer while preparing for your future.