The 2009 Homeowner Protection Act (SB-2513)

On April 5, 2009, Governor Pat Quinn signed into law the Homeowner Protection Act (SB-2513). The law gives Illinois homeowners who have fallen more than 30 days behind on their mortgage payments more time to work with their lender and/or servicer to develop a plan that will allow them to remain in their homes. Lenders and loan servicers are required to notify homeowners/borrowers when a loan is past due and provide an opportunity for the homeowner to seek housing counseling.
 
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