The Illinois Supreme Court is issuing a new set of rules addressing how mortgage foreclosures are handled in the state.
The court says the rules announced Friday are aimed at avoiding abuses during the foreclosure process.
The guidelines require lenders to prove to judges that they have exhausted all possibilities to help a homeowner before seeking a foreclosure judgment against the borrower.
All mortgage lenders will be subject to these rules. The court's guidelines will be in effect in all counties no later than June 1.
Lenders will have to provide an affidavit showing all the programs that were offered to individual borrowers to help them avoid foreclosure.
Foreclosures in Illinois at times can last almost two years. The new rules aren't expected to shorten that timeframe.
Thursday, June 13 2013 1:45 PM EDT2013-06-13 17:45:09 GMT
Even a fire hydrant is feeling the Blackhawks spirit, especially after Chicago's midnight victory over the Boston Bruins at the United Center in triple overtime.
Even a fire hydrant is feeling the Blackhawks spirit, especially after Chicago's midnight victory over the Boston Bruins at the United Center in triple overtime.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Wednesday, June 19 2013 4:14 PM EDT2013-06-19 20:14:33 GMT
Two government aid programs somehow became one Wednesday afternoon on the West Side. Hundreds of people lined up for both food and flood assistance at the state office at Chicago and Pulaski.
Two government aid programs somehow became one Wednesday afternoon on the West Side. Hundreds of people lined up for both food and flood assistance at the state office at Chicago and Pulaski.
Wednesday, June 19 2013 2:08 PM EDT2013-06-19 18:08:32 GMT
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
FOX consumer reporter Steve Noviello joined Good Day Chicago live from Dallas Wednesday morning to share tips on how to get the best deals on flights and hotels this summer.
FOX consumer reporter Steve Noviello joined Good Day Chicago live from Dallas Wednesday morning to share tips on how to get the best deals on flights and hotels this summer.
Summer is here and running season is in full swing, but you might not have everything you need. David Zimmer of Fleet Feet Sports shared tips on how to buy the best pair of running shoes for your feet.
Summer is here and running season is in full swing, but you might not have everything you need. David Zimmer of Fleet Feet Sports shared tips on how to buy the best pair of running shoes for your feet.
Monday, June 17 2013 3:09 PM EDT2013-06-17 19:09:21 GMT
On the first day of deliberation, the jury hearing former Chicago alderman Ambrosio Medrano's trial found him guilty of bribery. He could face up to five years in prison.
On the first day of deliberation, the jury hearing former Chicago alderman Ambrosio Medrano's trial found him guilty of bribery. He could face up to five years in prison.
Monday, June 17 2013 2:44 PM EDT2013-06-17 18:44:33 GMT
A spokeswoman for Gov. Pat Quinn says he has fully backed the tough pension proposal supported by the Illinois House and has "fought hard" to get it passed.
A spokeswoman for Gov. Pat Quinn says he has fully backed the tough pension proposal supported by the Illinois House and has "fought hard" to get it passed.
Amy Le started out behind the wheel at Duck-N-Roll. Now she's bringing some Asian-Latin spice to Chicago's financial district with her new restaurant Saucy Porka. Ever heard of a "baco?"
Amy Le started out behind the wheel at Duck-N-Roll. Now she's bringing some Asian-Latin spice to Chicago's financial district with her new restaurant Saucy Porka. Ever heard of a "baco?"
Monday, June 17 2013 12:48 PM EDT2013-06-17 16:48:35 GMT
Jewel-Osco was offering a $0.05 per gallon discount on fuel at Shell stations for every $50 in grocery purchases. But they have decided to cut the program.
Jewel-Osco was offering a $0.05 per gallon discount on fuel at Shell stations for every $50 in grocery purchases. But they have decided to cut the program.
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