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Illinois - Public Act 095-0961, Important Information For Homeowners In Foreclosure

Illinois - Public Act 095-0961, Important Information For Homeowners In Foreclosure

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Published by: ForeclosureGate.org Library on Mar 21, 2011
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06/14/2013

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Public Act 095-0961
 
Public Act 095-0961
 SB1879 Enrolled LRB095 15221 MJR 41202 b AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,represented in the General Assembly:
 Section 5. The Code of Civil Procedure is amended bychanging Section 15-1510 and by adding Sections 15-1504.5 and15-1505.5 as follows:(735 ILCS 5/15-1504.5 new)Sec. 15-1504.5. Homeowner notice to be attached to summons.For all residential foreclosure actions filed, the plaintiffmust attach a Homeowner Notice to the summons. The HomeownerNotice must be in at least 12 point type and in English andSpanish. The Spanish translation shall be prepared by theAttorney General and posted on the Attorney General's website.A notice that includes the Attorney General's Spanishtranslation in substantially similar form shall be deemed tocomply with the Spanish notice requirement in this Section. TheNotice must be in substantially the following form:
IMPORTANT INFORMATION FOR HOMEOWNERS IN FORECLOSURE
 
1. POSSESSION:
The lawful occupants of a home have theright to live in the home until a judge enters an order forpossession. 
2. OWNERSHIP:
You continue to own your home until thecourt rules otherwise. 
3. REINSTATEMENT:
As the homeowner you have the rightto bring the mortgage current within 90 days after youreceive the summons. 
4. REDEMPTION:
As the homeowner you have the right tosell your home, refinance, or pay off the loan during theredemption period. 
5. SURPLUS:
As the homeowner you have the right topetition the court for any excess money that results from aforeclosure sale of your home. 
6. WORKOUT OPTIONS:
The mortgage company does not wantto foreclose on your home if there is any way to avoid it.Call your mortgage company [insert name of the homeowner'scurrent mortgage servicer in bold and 14 point type] or itsattorneys to find out the alternatives to foreclosure. 
7. PAYOFF AMOUNT:
You have the right to obtain a
 
Page 1 of 6Illinois General Assembly - Full Text of Public Act 095-09613/20/2011http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=095-0961&GA=095
 
written statement of the amount necessary to pay off yourloan. Your mortgage company (identified above) mustprovide you this statement within 10 business days ofreceiving your request, provided that your request is inwriting and includes your name, the address of theproperty, and the mortgage account or loan number. Yourfirst payoff statement will be free. 
8. GET ADVICE:
This information is not exhaustive anddoes not replace the advice of a professional. You may haveother options. Get professional advice from a lawyer orcertified housing counselor about your rights and optionsto avoid foreclosure. 
9. LAWYER:
If you do not have a lawyer, you may be ableto find assistance by contacting the Illinois State BarAssociation or a legal aid organization that provides freelegal assistance. 
10. PROCEED WITH CAUTION:
You may be contacted bypeople offering to help you avoid foreclosure. Beforeentering into any transaction with persons offering to helpyou, please contact a lawyer, government official, orhousing counselor for advice.(735 ILCS 5/15-1505.5 new)Sec. 15-1505.5. Payoff demands.(a) In a foreclosure action subject to this Article, on thewritten demand of a mortgagor or the mortgagor's authorizedagent (which shall include the mortgagor's name, the mortgagedproperty's address, and the mortgage account or loan number), amortgagee or the mortgagee's authorized agent shall prepare anddeliver an accurate statement of the total outstanding balanceof the mortgagor's obligation that would be required to satisfythe obligation in full as of the date of preparation ("payoffdemand statement") to the mortgagor or the mortgagor'sauthorized agent who has requested it within 10 business daysafter receipt of the demand. For purposes of this Section, apayoff demand statement is accurate if prepared in good faithbased on the records of the mortgagee or the mortgagee's agent.(b) The payoff demand statement shall include thefollowing:(1) the information necessary to calculate the payoffamount on a per diem basis for the lesser of a period of 30days or until the date scheduled for judicial sale;(2) estimated charges (stated as such) that themortgagee reasonably believes may be incurred within 30days from the date of preparation of the payoff demandstatement; and(3) the loan number for the obligation to be paid, theaddress of the mortgagee, the telephone number of themortgagee and, if a banking organization or corporation,the name of the department, if applicable, and itstelephone number and facsimile phone number.(c) A mortgagee or mortgagee's agent who willfully fails toprepare and deliver an accurate payoff demand statement within10 business days after receipt of a written demand is liable tothe mortgagor for actual damages sustained for failure todeliver the statement. The mortgagee or mortgagee's agent isliable to the mortgagor for $500 if no actual damages aresustained. For purposes of this subsection, "willfully" means afailure to comply with this Section without just cause or
 
Page 2 of 6Illinois General Assembly - Full Text of Public Act 095-09613/20/2011http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=095-0961&GA=095
 
excuse or mitigating circumstances.(d) The mortgagor must petition the judge within theforeclosure action for the award of any damages pursuant tothis Section, which award shall be determined by the judge.(e) Unless the payoff demand statement provides otherwise,the statement is deemed to apply only to the unpaid balance ofthe single obligation that is named in the demand and that issecured by the mortgage or deed of trust identified in thepayoff demand statement.(f) The demand for and preparation and delivery of a payoffdemand statement pursuant to this Section does not change anydate or time period that is prescribed in the note or that isotherwise provided by law. Failure to comply with any provisionof this Section does not change any of the rights of theparties as set forth in the note, mortgage, or applicable law.(g) The mortgagee or mortgagee's agent shall furnish thefirst payoff demand statement at no cost to the mortgagor.(h) For the purposes of this Section, unless the contextotherwise requires, "deliver" or "delivery" means depositingor causing to be deposited into the United States mail anenvelope with postage prepaid that contains a copy of thedocuments to be delivered and that is addressed to the personwhose name and address are provided in the payoff demand."Delivery" may also include transmitting those documents bytelephone facsimile to the person or electronically if thepayoff demand specifically requests and authorizes that thedocuments be transmitted in electronic form.(i) The mortgagee or mortgagee's agent is not required tocomply with the payoff demand statement procedure set forth inthis Section when responding to a notice of intent to redeemissued under Section 15-1603(e).(735 ILCS 5/15-1510) (from Ch. 110, par. 15-1510)Sec. 15-1510. Attorney's Fees and Costs by WrittenAgreement.(a) The court may award reasonable attorney's fees andcosts to the defendant who prevails in a motion, an affirmativedefense or counterclaim, or in the foreclosure action. Adefendant who exercises the defendant's right of reinstatementor redemption shall not be considered a prevailing party forpurposes of this Section. Nothing in this subsection shallabrogate contractual terms in the mortgage or other writtenagreement between the mortgagor and the mortgagee or rights asotherwise provided in this Article which allow the mortgagee torecover attorney's fees and costs under subsection (b).(b) Attorneys' fees and other costs incurred in connectionwith the preparation, filing or prosecution of the foreclosuresuit shall be recoverable in a foreclosure only to the extentspecifically set forth in the mortgage or other writtenagreement between the mortgagor and the mortgagee or asotherwise provided in this Article.(Source: P.A. 86-974.)Section 10. The Illinois Human Rights Act is amended bychanging Section 10-104 as follows:(775 ILCS 5/10-104)Sec. 10-104. Circuit Court Actions by the Illinois AttorneyGeneral.
 
Page 3 of 6Illinois General Assembly - Full Text of Public Act 095-09613/20/2011http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=095-0961&GA=095

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