Archive for May 2013
Cross-Collateralization Clauses in Commercial Mortgages Are Enforceable, 7th Circuit Rules
Those cross-collateralization clauses common in commercial mortgages are enforceable and put subsequent lenders on inquiry notice of other debts brought within the scope of the mortgage by such clauses, the Seventh Circuit U.S. Court of Appeals ruled last week.Read More
Insufficient Efforts Void Publication Service
Insufficient efforts to locate and serve the defendant before seeking and effecting publication service may be attacked by that defendant even after judgment by default has been entered, a panel in the Appellate Court’s Third District has ruled.Read More
Supreme Court Adopts New Foreclosure Rules
The Illinois Supreme Court has issued three new rules aimed at mitigating abuses and
uncertainty in mortgage foreclosures.