Topic:
Mortgage foreclosure
(Wilhelmi, D-Joliet) adds to the mortgage foreclosure provisions a definition of "abandoned residential property" to include any two of 14 different criteria. Examples of some of these criteria include (1) if gas, electric, or water utility service to the property has been terminated and (2) windows or entrances to the property are boarded up or closed off or multiple window panes are broken and unrepaired. Provides requirement and procedures for an expedited judgment and sale of abandoned residential property. Ends the period of redemption for abandoned residential property on the date of the judgment confirming the judicial sale. Introduced and referred to the Senate Committee on Assignments.