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Financial Services Law Insights and Observations

Illinois Law Requires Illinois Courts to Stay Mortgage Foreclosure Proceedings Against Combat Military Personnel

State Issues

On June 1, Illinois Governor Pat Quinn signed into law HB 3762, a bill that requires an Illinois court to stay for 90 days foreclosure proceedings against a mortgagor who is a servicemember of the military on active duty and has been deployed to a combat (or combat support) posting within the previous 12 months. The stay is not automatic and must be requested by the servicemember. The bill takes effect January 1, 2011.