Creditors Rights
Foreclosure Fee Unconstitutional, High Court Rules
Mortgage Law Roundup Sharp Thinking No. 200 Perspectives on Developments in the Law from Sharp-Hundley, P.C. September 2021 Foreclosure Fee Unconstitutional, High Court Rules Illinois’ special $50 fee for filing mortgage foreclosure cases is unconstitutional, the Illinois Supreme Court has ruled. Acting in Walker v. Chasteen, 2021 IL 126086, the high court characterized the…
Read MoreGeneral Description of Improvements Held Sufficient
Mortgage Law Roundup Sharp Thinking No. 193 Perspectives on Developments in the Law from Sharp-Hundley, P.C. February 2021 General Description Of Improvements Held Sufficient Failure of the plaintiff to include in the mortgage foreclosure sale notice detailed information about the improvements on the property does not constitute such a failure in the notice…
Read MoreCourt Issues Primer On Lis Pendens
Real Estate Roundup SharpThinking No. 180 Perspectives on Developments in the Law from Sharp-Hundley, P.C. April 2020 Court Issues Primer On Lis Pendens By John T. Hundley, 618-242-0200, john@sharp-hundley.com The Appellate Court’s Third District has issued a valuable primer on the theory and use of the doctrine of…
Read MoreDefault, Acceleration Terms Are Critical Condition Precedents
Mortgage Law Roundup Sharp Thinking No. 176 Perspectives on Developments in the Law from Sharp-Hundley, P.C. January 2020 Default, Acceleration Terms Are Critical Condition Precedents By John T. Hundley, 618-242-0200, john@sharp-hundley.com Creditors and their collection counsel are being advised to read promissory notes and mortgages closely before filing suits thereon as a result of…
Read MoreChapter 13 Plan Confirmation Creates Judicial Estoppel
Happy Holidays! Sharp Thinking No. 175 Perspectives on Developments in the Law from Sharp-Hundley, P.C. December 2019 Chapter 13 Plan Confirmation Creates Judicial Estoppel Confirmation of a Chapter 13 plan is a sufficient benefit to estop the bankruptcy debtor from prevailing on an inconsistent position taken in state-court litigation the existence of which was…
Read MoreSuit Against Insurer Tossed After Joint Payee Forges Check
A mortgagee who was entitled to a property insurance payment may not sue the insurer on the policy after the insurer’s payment check is fraudulently endorsed by a co-payee, a panel in the Appellate Court’s First District has held.
Read MoreCourt Levies Harsh Sanctions for Filing Bankruptcy Papers Without Actual Signature
There are no circumstances that would ever justify an attorney filing a bankruptcy petition, the
supporting schedules, or the debtor’s Statement of Financial Affairs (“SOFA”) without first obtaining
the debtor’s actual signature thereto, the chief judge of a Texas bankruptcy court has held.
Guaranty Triggered by Resistance to Foreclosure Is Enforceable, Court Says
By John T. Hundley, Jhundley@lotsharp.com, 618-242-0246
A provision making obligors personally liable if they resist foreclosure on an otherwise non-recourse obligation is enforceable, a panel of the Illinois Appellate Court in Chicago has held.
Foreclosure Judgment Not Final And Appealable, High Court Says
A mortgage foreclosure judgment generally is a “final order” but not a “final and appealable” order, the Illinois Supreme Court said late last month.
Read MorePrice Alone No Basis To Void Judicial Sale, Court Holds
Inadequacy of the sales price, standing alone, is not a sufficient reason to deny confirmation of a judicial sale, a panel in the Appellate Court in Chicago held late last month.
Read More