INLAND BANK AND TRUST v. Knight

This current appeal concerns a mortgage foreclosure action brought by plaintiff-appellee Inland Bank and Trust (Inland) on an apartment complex. Defendants-appellants appeal an order by the circuit court granting Inland’s motion to strike defendants’ affirmative defenses to the foreclosure complaint and a counterclaim alleging a violation of the Interest Act (815 ILCS 205/1 et seq. (West 2006)).

BACKGROUND

In 2003, Carlton W Knight refinanced a mortgage loan through Westbank, Inland’s predecessor, on a 3-building, 41-unit multifamily apartment complex in Harvey, Illinois. Westbank loaned Knight…