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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB3035 Introduced 1/5/2022, by Sen. Michael E. Hastings SYNOPSIS AS INTRODUCED:
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Amends the Mortgage Foreclosure Article of the Code of Civil Procedure. Provides that a default for failing to make a scheduled payment each month as required under any applicable note and mortgage shall constitute a basis for a new, separate and distinct cause of action. Provides that any voluntary dismissal of a foreclosure shall act as a deacceleration of the note and mortgage.
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| | A BILL FOR |
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| | SB3035 | | LRB102 22375 LNS 31514 b |
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| 1 | | AN ACT concerning civil law.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Code of Civil Procedure is amended by |
| 5 | | adding Section 15-1406 as follows:
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| 6 | | (735 ILCS 5/15-1406 new) |
| 7 | | Sec. 15-1406. Refiling of Foreclosure Proceedings. A |
| 8 | | default for failing to make a scheduled payment each month as |
| 9 | | required under any applicable note and mortgage shall |
| 10 | | constitute a basis for a new, separate and distinct cause of |
| 11 | | action. The new, separate and distinct cause of action shall |
| 12 | | exist notwithstanding (i) any prior acceleration of the same |
| 13 | | debt due to one or more previous defaults that resulted in a |
| 14 | | foreclosure proceeding that was voluntarily dismissed, or (ii) |
| 15 | | anything to the contrary in Section 13-217. Any voluntary |
| 16 | | dismissal of a foreclosure shall act as a deacceleration of |
| 17 | | the note and mortgage.
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