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.
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.
Tuesday, February 5 2013 3:09 PM EST2013-02-05 20:09:54 GMT
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Friday, May 24 2013 12:58 PM EDT2013-05-24 16:58:00 GMT
CTA Ventra payment card holders who use the card's controversial debit features won't be charged for talking to public transit customer service operators or using the cards for cash ATM withdrawals.
CTA Ventra payment card holders who use the card's controversial debit features won't be charged for talking to public transit customer service operators or using the cards for cash ATM withdrawals.
Friday, May 24 2013 9:32 AM EDT2013-05-24 13:32:16 GMT
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Thursday, May 23 2013 10:40 PM EDT2013-05-24 02:40:45 GMT
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
Wednesday, May 22 2013 8:53 AM EDT2013-05-22 12:53:15 GMT
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
On this week's Ask the Expert, Redfin real estate agent and local housing market expert Jenna Smith answered your questions about pre-financial crisis prices, a good time to buy and what "comps" are.
On this week's Ask the Expert, Redfin real estate agent and local housing market expert Jenna Smith answered your questions about pre-financial crisis prices, a good time to buy and what "comps" are.
Friday, May 24 2013 11:00 PM EDT2013-05-25 03:00:57 GMT
An Evanston high school varsity baseball team will not play in the playoff tournament this weekend after a group of students, including team members, allegedly "sexted" risque photos to each other.
An Evanston high school varsity baseball team will not play in the playoff tournament this weekend after a group of students, including team members, allegedly "sexted" risque photos to each other.
Friday, May 24 2013 10:16 PM EDT2013-05-25 02:16:28 GMT
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
Friday, May 24 2013 5:40 PM EDT2013-05-24 21:40:48 GMT
Several military families were honored in Orland Park on Friday, and got to meet country music superstar Tim McGraw. Five of those families are from the Chicago area, and they were excited to meet him.
Several military families were honored in Orland Park on Friday, and got to meet country music superstar Tim McGraw. Five of those families are from the Chicago area, and they were excited to meet him.
