Illinois Supreme Court Establishes Foreclosure Committee

The ""Illinois Supreme Court"":http://www.state.il.us/court announced on Monday the formation of a special committee to study and formulate proposals to help families facing foreclosure. The committee will also work to improve the judicial process in mortgage foreclosures throughout the state.
[IMAGE] Supreme Court justices noted that Illinois' foreclosure crisis is not easing. At the end of 2010, there were approximately 70,000 mortgage foreclosure actions pending in Cook County alone.

Chief Justice Kilbride was instrumental in bringing a foreclosure mediation program to Will
County and is looking at instituting additional programs in his district across north central Illinois. Cook County has a mediation program in place that was specifically recognized by the
White House at a Washington D.C. conference sponsored by Vice President Joseph Biden's Middle Class Task Force.

""These have been important steps forward for those who are faced with the loss of their homes due to declining home values and our nation's economic crisis, but the problem isn't going away,"" said Chief Justice Thomas L. Kilbride.

He continued, ""The Supreme Court has a keen interest in programs with the strong promise of achieving timely and

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lasting resolution to tough problems, and we believe this select committee can come up with specific solutions to help families cope with the emotional and financial burdens of those facing such a devastating loss.""

The committee consists of 14 individuals, including judges, bankers, lawyers, a law professor, and an official from the Illinois attorney general's office. Circuit Court judge Lewis M. Nixon, supervising judge of mortgage foreclosure in the Cook County Circuit Court, will chair the committee.

""While the economy appears to be making some progress, the foreclosure crisis remains a serious societal problem,"" said Supreme Court Justice Mary Jane Theis.

""It is important that the Court try to do what it can to lend some stability and certitude to what is a financially and emotionally chaotic process. Mortgage foreclosure proceedings in Illinois need to be fair, efficient, and final - not subject to later legal challenges,"" Theis added.

The Court asked the committee to investigate inventory procedures, including Supreme Court rules and local court rules that affect foreclosure proceedings; analyze procedures adopted in other states in response to the number of foreclosure filings nationwide; and review legislative proposals pending in the Illinois General Assembly that may impact the mortgage foreclosure scheme.

The Supreme Court also asked the committee to recommend to the Court mortgage foreclosure rules for implementation statewide.

""This is a committee loaded with expertise and experience,"" said Kilbride. ""It is uniquely qualified to consider all interests in the mortgage foreclosure process-from the homeowner and the lender to the lawyer and judge who must move the vast amount of paperwork to obtain resolution in the court system.""