A Look At Illinois Foreclosure Reform

Law360, New York (December 3, 2010, 12:12 PM EST) -- Recent media coverage portrays the nation’s mortgage foreclosure process as utter chaos. Mortgage servicers are accused of signing false affidavits to foreclose on mortgages in which they have no interest. The shadowy organization known as “MERS” has supposedly destroyed borrowers’ notes and mortgages as part of some grand scheme to deprive ordinary hardworking American citizens of their homes. With scant evidence, these stories suggest that admitted but generally harmless procedural issues in a limited number of foreclosures have caused actual harm to struggling homeowners.

Politicians, sensing...
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