Amendments to Illinois Mortgage Foreclosure Law
by Diana Athanasopoulos
One of the
amendments to the Illinois Mortgage Foreclosure Law that went into
effect on January 1, 2009, includes a provision (735 ILCS 5/15-1510 (a)
Attorney’s Fees and Costs), which authorizes the court to award
reasonable attorneys’ fees to a defendant who prevails on a
motion, affirmative defense or counterclaim, or in the foreclosure
action. This section does not apply if a borrower reinstates or pays off
in the normal course. The section does not prevent the collection of
fees and costs pursuant to the terms of the mortgage.
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