Law Offices of David P. Leibowitz LLC
Lakelaw is a registered assumed name for Law Offices of David P. Leibowitz LLC
A new Illinois statute, effective January 1, 2009, requires that lenders give homeowners special notices in forclosure cases, both in English and Spanish. Click here to read the Illinois Mortgage Foreclosure Law. These notices must inform the defendant that:
In addition, the name of the mortgage lender must be set out in large type. The lender must provide a pay-off statement at no cost. If the lender wilfully fails to deliver an accurate statement within 10 days, the lender is liable for actual damages or statutory damages not less than $500.
This statute gives borrowers important rights. We at Lakelaw are ready, willing and able to help Illinois homeowners protect their rights and save their homes.