Illinois Supreme Court Rolls Out New Foreclosure Rules

On Feb. 22, the Illinois Supreme Court announced new rules establishing a uniform protocol when it comes to the foreclosure process. Among the rules outlined in the court's news release:

• Lenders must provide homeowners with information about the process and consequences of foreclosure.
• Lenders must seek modifications with eligible homeowners before completing a foreclosure.
• Improved legal notices to owners are required throughout the process and before a foreclosure sale.

Illinois Circuit Courts with mediation programs will be required to provide resources for HUD-certified consultation, free legal help and language interpretive services to those eligible and in need of them. Find media coverage of the new rules in the Chicago Tribune article, "New rules to govern Illinois foreclosures," and in the State Journal-Register, "Illinois Supreme Court issues rules on foreclosures."