Charter Bank v. Eckert

On January 4, 1989, Charter Bank filed a foreclosure action in the circuit court of Jackson County naming James Eckert, Larry Eckert, the Eckert Land Company, Donald Cook, Frederick Stiles, the Forrest Hall partnership, and all unknown claimants of record as defendants.

The record indicates that on August 29, 1986, the Eckerts and the Eckert Land Company borrowed $450,000 from Charter Bank to purchase the Forrest Hall dormitory in Carbondale, Illinois, securing the note with a mortgage on the premises. On or about December 31, 1986, they sold the property to Donald Cook, who immediately sold…