Legal Opinion
REACT FINANCIAL v. Long
Appellate Court of Illinois
Decided May 25, 2006No. 3-05-0438PublishedCited by 9 opinions
1Opinion of the CourtJustice Slater
In 1987 the Illinois legislature enacted the Illinois Mortgage Foreclosure Law (Foreclosure Law) (735 ILCS 5/15 — 1101 et seq. (West 2004); see Pub. Act 84 — 1462, § 2, eff. July 1, 1987), which substantially reorganized and modified the law as it then existed. In this case we consider the effect of the Foreclosure Law on the rights and obligations of a junior mortgagee following a foreclosure by the senior mortgagee and the subsequent judicial sale of the mortgaged premises.
Facts
On April 14, 1997, defendants Darren and Sheryle Long executed a note to Tiskilwa State Bank in the amount of…
2Cases cited11 opinions
- Kedzie and 103rd Currency Exchange, Inc. v. HodgeIllinois Supreme Court · 1993
- Norma I. Colon, Debtor-Appellant v. Option One Mortgage Corporation, And/or Its AssignsCourt of Appeals for the Seventh Circuit · 2003
- Fitch v. MillerIllinois Supreme Court · 1902
- Callner v. GreenbergIllinois Supreme Court · 1941
- Baldi v. Chicago Title & Trust Co.Appellate Court of Illinois · 1983
6 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- ABN AMRO Mortgage Group Inc. v. McGahanIllinois Supreme Court · 2010
- Romspen Mortgage Limited Partn v. BGC Holdings LLC - ArlingtonCourt of Appeals for the Seventh Circuit · 2021
- The Bank of New York v. LangmanAppellate Court of Illinois · 2013
- U.S. Bank National Ass'n v. Collins-FullerCourt of Appeals for the Seventh Circuit · 2016
- U.S. Bank, National Ass'n v. LaskowskiAppellate Court of Illinois · 2019
4 more not listed; retrieve them via the Exa API.