FOR RELEASE: May 22, 2013
For Further Information Contact: Stephanie Sievers, 217-529-2600
Against substantial REALTOR® opposition, the Cook County Board on Wednesday passed a measure making it a human rights violation for landlords to opt out of the federal Section 8 housing program.
Senate Bill 1244 failed in a 6-4 vote on May 9 in the Illinois Housing of Representatives Housing Committee.
Following are recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation, http://www.idfpr.com/News/Disciplines/DiscReports.asp
Illinois Appellate Court finds unconscionable a contract to obtain mortgage foreclosure surplus and explains new procedures to protect mortgagors. Crown Mortgage Company v. Young, 2013 IL App (1st) 122363. In this case, the mortgage on a widow’s home was foreclosed in 2004, yielding a $14,000 surplus that was not claimed. Eight years later, a company called Unclaimed Funds Unit, LLC (“Unclaimed”) notified the widow that she may be entitled to money that it had located.
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