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Illinois legislation rejects In re Crane
- Reed Smith LLP
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- USA
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- February 12 2013
Custom and practice in Illinois with respect to mortgages has been to incorporate the note or other debt instrument by reference, rather than to
Illinois legislation trumps In re Crane bankruptcy court decision
- Reed Smith LLP
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- USA
- -
- December 14 2012
Since the In re Crane decision was handed down by the Bankruptcy Court for the Central District of Illinois in April 2012, all eyes in the mortgage banking industry have been focused on the appeal of the decision pending in the U.S
Bankruptcy court decision in Illinois holds that mortgage can be avoided because of failure to include loan terms in mortgage document
- Reed Smith LLP
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- USA
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- May 22 2012
In In re Crane, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage can be avoided in bankruptcy if it fails to include the maturity date and the interest rate of the underlying debt within the mortgage document
Bankruptcy court in Illinois holds that a mortgage is avoidable in bankruptcy if the mortgage as recorded does not state the maturity date and interest rate of the underlying debt
- Reed Smith LLP
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- USA
- -
- May 15 2012
In a decision that potentially has serious implications for mortgage financing transactions in Illinois, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage is avoidable in bankruptcy if it fails to include the maturity date and the interest rate of the underlying debt within the mortgage document as recorded
Financing contingencies and earnest money deposits: if I can't get my loan, I get my deposit back, right?
- Reed Smith LLP
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- USA
- -
- February 22 2012
Real estate purchasers whose contract permits the return of the earnest money deposit if financing cannot be obtained must be extremely careful in how this contingency is worded in the purchase contract, or a purchaser may get an unwelcome surprise, and be forced to forfeit the earnest money when financing cannot be obtained
Chicago's Vacant Building Ordinance addresses some serious problems - and creates some of its own, too
- Reed Smith LLP
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- USA
- -
- January 24 2012
Chicago’s Vacant Building Ordinance, which imposes substantial and unprecedented duties on mortgagees of residential real estate located in the city of Chicago, continues to generate controversy and lawsuits
Chicago mandates that lenders register and maintain vacant properties before acquiring ownership
- Reed Smith LLP
- -
- USA
- -
- August 26 2011
Since the onset of the recession, we have become well familiar with the nationwide foreclosure crisis, particularly as to residential properties
Current Search
- Jurisdiction - USA
- Firm Name - Reed Smith LLP
- Workarea - Banking
- Author - Daniel J. Slattery