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Illinois Legislature Considers Proposals Regarding Foreclosure Law

January 7, 2011

The Illinois legislature is currently considering two bills which would affect parts of the Illinois Code of Civil Procedure. Senate Bill 3067 would require that a foreclosure complaint contain documents which show that the plaintiff has the right to collect on the mortgage indebtedness and standing to bring the foreclosure action. The bill further requires judges to enter a finding of fact regarding the plaintiffs’ standing to bring the action. House Bill 6951 would require plaintiffs to file a “loss mitigation affidavit” with its pleadings in which the plaintiff will be required to state the steps that it took to determine whether the loan could be modified. The bill would also require plaintiffs to comply with any other loss mitigation program mandated at the federal, state or local level or by contract.

For further information on Senate Bill 3067: http://e-lobbyist.com/gaits/IL/SB3067

For further information on House Bill 6951: http://e-lobbyist.com/gaits/IL/HB6951