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Tag Archives: Illinois

Supreme Court States “If Sought” is Seeking

What constitutes a “same” cause of action, especially when multiple contracts are at play? A recent Illinois Supreme Court ruling in First Midwest Bank v. Cobo examined this term and what it actually meant in foreclosures.

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Potestivo & Associates Adds Two Associate Attorneys

Default servicing firm Potestivo & Associates, headquartered in Rochester Hills, Michigan, and full-service offices in Grand Rapids, Michigan, and Chicago, Illinois, has announced the hiring of two new associate attorneys, Nicholas J. Tatro and Caitlin Cipri, according to an announcement ...

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FHFA Launches Neighborhood Stabilization Pilot Program in Illinois

The Neighborhood Stabilization Initiative is a set of strategies that aim to help delinquent borrowers avoid foreclosure and create a more efficient disposition path for foreclosed properties that will first be introduced in Cook County, Illinois. The housing market in the county, which contains Chicago, took a precipitous dive at the end of 2008 that took four years to reverse, according to data from DePaul University.

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Bank of America Loses Bid to Have Chicago Predatory Lending Lawsuit Dismissed

Cook County says that the bank's alleged predatory lending practices resulted in a higher number of foreclosures, increased blight, and lower property taxes in urban Chicago. Bank of America was seeking to have the suit dismissed, claiming that the county lacked standing to sue and waited too long to initiate litigation. The bank also says the county did not prove that the bank violated the Fair Housing Act, according to reports.

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