Bank of New York Mellon v. Dubrovay, 2021 IL App (2d) 190540 (November 17, 2021) Du Page Co. (McLAREN) Reversed and remanded.Court granted Defendant’s motion to dismiss Plaintiff’s 4th foreclosure complaint for violating the single refiling rule of section 13-217 of Code of Civil Procedure. Because Plaintiff’s accelerations occurred by the filing of foreclosure actions, Plaintiff’s voluntary dismissals of those actions constituted affirmative acts of revocation of those accelerations. Thus, upon revocation the parties returned to their pre-acceleration rights and obligations. Defendants were obligated to make monthly installments, and thus their new payment default gave rise to a separate
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Federal Infrastructure Bill Set to Supercharge P3 Spending
Development through public-private partnerships or “P3s” has increased sharply in the past several years, and is poised for an even bigger jump thanks to Uncle Sam. The infrastructure bill, which passed the U.S. House of Representatives last week as H.R. 3684 and which President Biden signed into…
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Federal Infrastructure Bill to Codify Streamlining of Federal Permitting Process in Major Infrastructure Projects
The Infrastructure Investment and Jobs Act, which passed in the House of Representatives on Friday, November 4th and is expected to be signed into law in the coming weeks, includes an important, permanent streamlining to the federal permitting and environmental review process for large…
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UPDATE: Understanding a Consent Foreclosure in Illinois
Originally published: July 19, 2019 — Updated: November 8, 2021
UPDATE: A consent foreclosure, as described below, may be a beneficial way for a person to relinquish ownership of their home and avoid a deficiency judgment. However, homeowners who are considering a consent foreclosure should be sure to understand how this will affect their credit. The completion of a foreclosure will be included in a person’s credit report, which could affect their ability to secure a mortgage in the future. If this will be a concern, a homeowner may need to determine whether completing a short sale or using a
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Delaware Federal Court Imposes Limit on Surety's Liability Under Performance Bond
A recent decision from the United States District Court for Delaware held that a surety was not liable for consequential damages to a building owner after a default by its contractor because the surety’s liability could not be greater than its principal’s liability. See Iron Branch Associates, LP v…
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When Is a Quit Claim Deed Used to Transfer Ownership of Real Estate?
During a residential real estate transaction or another situation where ownership of a home is transferred from one party to another, the parties will use a deed to complete the transfer. A deed is a legal document in which a grantor who owns or has a claim to the property will transfer their ownership interests to a grantee. There are multiple types of deeds that may be used, and in some cases, a grantor may be looking for a simple release of their ownership claim. In these situations, a quit claim deed may be used, but when doing so, the
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Massachusetts Federal Court: Contractor and Contractor's Owner Personally Liable for Fraud and Conversion for Failing to Pay Subcontractor; Contractor Also Liable for Millions Resulting From Termination for Cause
A recent decision from the United States District Court for Massachusetts held a contractor and its owner personally liable for failing to pay a subcontractor and held that the contractor was liable for millions in damages to the owner resulting from owner’s termination of the contractor for cause…
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Can a Home Closing Be Completed Digitally?
The process of buying or selling a home can be complicated at the best of times, but since the onset of the COVID-19 pandemic, people involved in these types of transactions have encountered additional challenges. In some cases, people may be concerned about safety issues related to the possible spread of infections. At the same time, many people have become used to working from home or holding virtual meetings, and they may find it easier to handle business using online tools rather than meeting in person. Homebuyers and sellers will want to understand the options that may be available to
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The End of the Illinois Eviction Moratorium
As of October 4, 2021, the Illinois Eviction Moratorium has ended. This means that residential tenants can once again be evicted from their units. The ending of the Illinois Eviction Moratorium also means that a “covered person” is no longer protected from evictions, and landlords are no longer required to send a tenant declaration prior to filing an eviction lawsuit. The end of the Illinois Eviction Moratorium benefits Homeowner Associations because Illinois Courts will now allow Homeowner Associations to freely collect on delinquent assessments without any obstacles.
The State of Illinois as well as various counties throughout Illinois have set up
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101 Ways to Defeat – or Screw Up – Illinois Mechanics Lien Claims
Someone once told me Illinois mechanics lien claims are the second leading cause of legal malpractice claims in the State of Illinois. I do not know that to be true. But it is easy to believe.
In fact, I intended to title this post “1,001 Ways to Screw Up an Illinois Mechanics Lien Claim.”
No foolin’ – this tome is not even close to an exhaustive list of ways to get it wrong.
I just ran out of time… so 101 ways to defeat Illinois mechanics lien claims it is!
Don’t Be Fooled: Illinois Mechanics Lien Claims Are Complex
The
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Notice and Opportunity to Cure: Only if Specifically Required in a Construction Contract
A Texas appellate court recently ruled that an owner properly terminated its contract with a contractor, despite the owner’s failure to provide the contractor notice and an opportunity to cure. See TPG (Post Oak) Acquisition, LLC, et al. v. Greystone Multi-Family Builders, Inc., et al. , First…
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How Can a Forbearance Agreement Affect the Sale of a Home?
Homeowners may experience financial difficulties that affect their ability to make mortgage payments. The COVID-19 pandemic has led to hardship for many homeowners, and government programs have been implemented to provide homeowners with relief. In some cases, a homeowner may qualify for forbearance, which will allow them to temporarily pause or reduce mortgage payments. Homeowners who have received forbearances will need to understand how this will affect their ability to sell their home.
Addressing Forbearances During a Real Estate Transaction
A homeowner can request a forbearance if they experience financial hardship, and a mortgage lender may agree to defer
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Combating Material Supply Disruptions and Cost Escalation
The construction industry is confronting new post-COVID challenges – construction materials shortages, extreme material price increases and supply chain disruptions, all of which are exacerbated by economic uncertainty.
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What Options Do Landlords Have After the End of the Eviction Moratorium?
Many families have been affected by the COVID-19 pandemic, and those who have experienced financial difficulties may have struggled to pay ongoing expenses, including rent. To help protect families from losing their homes and being put at risk of infections, the federal government placed a moratorium on evictions, and multiple state governments did the same. A recent Supreme Court decision ended the federal eviction moratorium, but Illinois’ moratorium is still in effect, and Governor J.B. Pritzker has stated that it will be extended through October 3, 2021. Landlords with tenants who have been unable to pay rent will need to
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Illinois Small Estate Affidavits
Families that would rather avoid probate court due to the costs and time frame of a court proceeding can take advantage of small estates affidavits to obtain a decedent’s assets. These include assets such as vehicles, bank accounts, certificates of deposit and corporate stocks standing in their name alone. The maximum amount of non-probate personal assets that a decedent can own at the time of death, and still qualify for the use of a small estate affidavit is currently $100,000. This does not include life insurance payable to a named beneficiary, joint tenancy accounts, payable on death accounts, real estate
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How Can the Flex Modification Program Prevent Foreclosure?
Anyone can encounter financial problems that affect their ability to meet their obligations. Homeowners who are struggling to pay bills may be concerned about what will happen if they get behind on their mortgage payments. Those who are worried about the possibility of foreclosure will want to understand their options, and in some cases, they may qualify for mortgage relief through the Flex Modification Program.
Eligibility for the Flex Modification Program
To determine whether they qualify for the Flex Modification Program, homeowners will need to understand who owns their loan. This program is available for mortgages owned or guaranteed by
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