Full Text of SB2349 94th General Assembly
SB2349sam003 94TH GENERAL ASSEMBLY
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Sen. Jacqueline Y. Collins
Filed: 2/24/2006
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| AMENDMENT TO SENATE BILL 2349
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| AMENDMENT NO. ______. Amend Senate Bill 2349 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 1. Short title. This Act may be cited as the | 5 |
| Mortgage Rescue Fraud Act. | 6 |
| Section 5. Definitions. As used in this Act: | 7 |
| "Distressed property" means residential real property | 8 |
| consisting of one to 6 family dwelling units that is in | 9 |
| foreclosure or at risk of loss due to nonpayment of taxes, or | 10 |
| whose owner is more than 90 days delinquent on any loan that is | 11 |
| secured by the property. | 12 |
| "Distressed property consultant" means any person who, | 13 |
| directly or indirectly, for compensation from the owner, makes | 14 |
| any solicitation, representation, or offer to perform or who, | 15 |
| for compensation from the owner, performs any service that the | 16 |
| person represents will in any manner do any of the following: | 17 |
| (1) stop or postpone the foreclosure sale or the loss | 18 |
| of the home due to nonpayment of taxes; | 19 |
| (2) obtain any forbearance from any beneficiary or | 20 |
| mortgagee, or relief with respect to a tax sale of the | 21 |
| property; | 22 |
| (3) assist the owner to exercise any right of | 23 |
| reinstatement or right of redemption; | 24 |
| (4) obtain any extension of the period within which the |
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| owner may reinstate the owner's rights with respect to the | 2 |
| property; | 3 |
| (5) obtain any waiver of an acceleration clause | 4 |
| contained in any promissory note or contract secured by a | 5 |
| mortgage on a distressed property or contained in the | 6 |
| mortgage; | 7 |
| (6) assist the owner in foreclosure, loan default, or | 8 |
| post-tax sale redemption period to obtain a loan or advance | 9 |
| of funds; | 10 |
| (7) avoid or ameliorate the impairment of the owner's | 11 |
| credit resulting from the recording of a notice of default | 12 |
| or the conduct of a foreclosure sale or tax sale; or | 13 |
| (8) save the owner's residence from foreclosure or loss | 14 |
| of home due to nonpayment of taxes. | 15 |
| A "distressed property consultant" does not include any of | 16 |
| the following: | 17 |
| (1) a person or the person's authorized agent acting | 18 |
| under the express authority or written approval of the | 19 |
| Department of Housing and Urban Development; | 20 |
| (2) a person who holds or is owed an obligation secured | 21 |
| by a lien on any distressed property, or a person acting | 22 |
| under the express authorization or written approval of such | 23 |
| person, when the person performs services in connection | 24 |
| with the obligation or lien, if the obligation or lien did | 25 |
| not arise as the result of or as part of a proposed | 26 |
| distressed property conveyance; | 27 |
| (3) banks, savings banks, savings and loan | 28 |
| associations, credit unions, and insurance companies | 29 |
| organized, chartered, or holding a certificate of | 30 |
| authority to do business under the laws of this State or | 31 |
| any other state or under the laws of the United States; | 32 |
| (4) licensed attorneys engaged in the practice of law; | 33 |
| (5) a Department of Housing and Urban Development | 34 |
| approved mortgagee and any subsidiary or affiliate of these |
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| persons or entities, and any agent or employee of these | 2 |
| persons or entities, while engaged in the business of these | 3 |
| persons or entities; | 4 |
| (6) a 501(c)(3) nonprofit agency or organization, | 5 |
| doing business for no less than 5 years, that offers | 6 |
| counseling or advice to an owner of a home in foreclosure | 7 |
| or loan default, if they do not contract for services with | 8 |
| for-profit lenders or distressed property purchasers, or | 9 |
| any person who structures or plans such a transaction; | 10 |
| (7) licensees of the Residential Mortgage License Act | 11 |
| of 1987; | 12 |
| (8) licensees of the Consumer Installment Loan Act who | 13 |
| are authorized to make loans secured by real property; or | 14 |
| (9) licensees of the Real Estate License Act of 2000 | 15 |
| when providing licensed activities. | 16 |
| "Distressed property purchaser" means any person who | 17 |
| acquires any interest in a distressed property while allowing | 18 |
| the owner to possess, occupy, or retain any present or future | 19 |
| interest in the property, or any person who structures or plans | 20 |
| a distressed property conveyance. | 21 |
| "Distressed property conveyance" means a transaction in | 22 |
| which an owner of a distressed property transfers an interest | 23 |
| in the distressed property; the acquirer of the property allows | 24 |
| the owner of the distressed property to occupy the property; | 25 |
| and the acquirer of the property or a person acting in | 26 |
| participation with the acquirer of the property conveys or | 27 |
| promises to convey an interest back to the owner or gives the | 28 |
| owner an option to purchase the property at a later date. | 29 |
| "Person" means any individual, partnership, corporation, | 30 |
| limited liability company, association, or other group or | 31 |
| entity, however organized. | 32 |
| "Service" means, without limitation, any of the following: | 33 |
| (1) debt, budget, or financial counseling of any type; | 34 |
| (2) receiving money for the purpose of distributing it |
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| to creditors in payment or partial payment of any | 2 |
| obligation secured by a lien on a distressed property; | 3 |
| (3) contacting creditors on behalf of an owner of a | 4 |
| residence that is distressed property; | 5 |
| (4) arranging or attempting to arrange for an extension | 6 |
| of the period within which the owner of a distressed | 7 |
| property may cure the owner's default and reinstate his or | 8 |
| her obligation;
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| (5) arranging or attempting to arrange for any delay or | 10 |
| postponement of the time of sale of the residence in | 11 |
| foreclosure; | 12 |
| (6) advising the filing of any document or assisting in | 13 |
| any manner in the preparation of any document for filing | 14 |
| with any court; or | 15 |
| (7) giving any advice, explanation, or instruction to | 16 |
| an owner of a distressed property that in any manner | 17 |
| relates to the cure of a default or forfeiture or to the | 18 |
| postponement or avoidance of sale of the distressed | 19 |
| property.
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| Section 10. Distressed property consultant contract terms.
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| (a) A distressed property consultant contract must be in | 22 |
| writing and must fully disclose the exact nature of the | 23 |
| distressed property consultant's services and the total amount | 24 |
| and terms of compensation. | 25 |
| (b) The following notice, printed in at least 12-point | 26 |
| boldface type and completed with the name of the distressed | 27 |
| property consultant, must be printed immediately above the | 28 |
| statement required by subsection (c) of this Section: | 29 |
| "NOTICE REQUIRED BY ILLINOIS LAW | 30 |
| ...............................(name) or anyone working | 31 |
| for him or her CANNOT: | 32 |
| (1) Take any money from you or ask you for money until | 33 |
| ........................................ (Name) has |
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| completely finished doing everything he or she said he or | 2 |
| she would do; or
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| (2) Ask you to sign or have you sign any lien, | 4 |
| mortgage, or deed." | 5 |
| (c) A distressed property consultant contract must be | 6 |
| written in the same language as principally used by the | 7 |
| distressed property consultant to describe his or her services | 8 |
| or to negotiate the contract, must be dated and signed by the | 9 |
| owner, and must contain in immediate proximity to the space | 10 |
| reserved for the owner's signature a conspicuous statement in a | 11 |
| size equal to at least 12-point boldface type, as follows: | 12 |
| "You, the owner, may cancel this transaction at any | 13 |
| time until after the distressed property consultant has | 14 |
| fully performed each and every service the distressed | 15 |
| property consultant contracted to perform or represented | 16 |
| he or she would perform. See the attached notice of | 17 |
| cancellation form for an explanation of this right." | 18 |
| (d) A distressed property contract must contain on the | 19 |
| first page, in a type size no smaller than that generally used | 20 |
| in the body of the document, each of the following: | 21 |
| (1) the name and address of the distressed property | 22 |
| consultant to which the notice of cancellation is to be | 23 |
| mailed; and | 24 |
| (2) the date the owner signed the contract. | 25 |
| (e) A distressed property consultant contract must be | 26 |
| accompanied by a completed form in duplicate, captioned "NOTICE | 27 |
| OF CANCELLATION," which must be attached to the contract, must | 28 |
| be easily detachable, and must contain, in at least 12-point | 29 |
| boldface type, the following statement written in the same | 30 |
| language as used in the contract: | 31 |
| "NOTICE OF CANCELLATION | 32 |
| ............................ | 33 |
| (Enter date of transaction) | 34 |
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You may cancel this transaction, without any penalty or |
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| obligation, at any time until after the distressed property | 2 |
| consultant has fully performed each and every service the | 3 |
| distressed property consultant contracted to perform or | 4 |
| represented he or she would perform. | 5 |
| To cancel this transaction, mail or deliver a signed and | 6 |
| dated copy of this cancellation notice, or any other written | 7 |
| notice to: | 8 |
| ..................(Name of distressed property consultant) at | 9 |
| ...........................(Address of distressed property | 10 |
| consultant's place of business) | 11 |
| I hereby cancel this transaction on ...............(Date) | 12 |
| .....................................(Owner's signature)". | 13 |
| (f) The distressed property consultant shall provide the | 14 |
| owner with a copy of a distressed property consultant contract | 15 |
| and the attached notice of cancellation immediately upon | 16 |
| execution of the contract.
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| Section 15. Rescission of distressed property consultant | 18 |
| contract.
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| (a) In addition to any other legal right to rescind a | 20 |
| contract, an owner has the right to cancel a distressed | 21 |
| property consultant contract at any time until after the | 22 |
| distressed property consultant has fully performed each | 23 |
| service the distressed property consultant contracted to | 24 |
| perform or represented he or she would perform. | 25 |
| (b) Cancellation occurs when the owner gives written notice | 26 |
| of cancellation to the distressed property consultant at the | 27 |
| address specified in the distressed property consultant | 28 |
| contract. | 29 |
| (c) Notice of cancellation, if given by mail, is effective | 30 |
| when deposited in the mail properly addressed with postage | 31 |
| prepaid. Notice by certified mail, return receipt requested, | 32 |
| addressed to the address specified in the distressed property | 33 |
| consultant contract, shall be conclusive proof of notice of |
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| service. | 2 |
| (d) Notice of cancellation given by the owner need not take | 3 |
| the particular form as provided with the distressed property | 4 |
| consultant contract and, however expressed, is effective if it | 5 |
| indicates the intention of the owner not to be bound by the | 6 |
| contract.
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| Section 20. Waiver of a distressed property consultant | 8 |
| contract.
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| (a) Any waiver by an owner of the provisions of Section 10 | 10 |
| or 15 is void and unenforceable as contrary to public policy. | 11 |
| (b) Any attempt by a distressed property consultant to | 12 |
| induce an owner to waive the owner's rights is a violation of | 13 |
| the Act.
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| Section 25. Distressed property conveyance contract. A | 15 |
| distressed property purchaser shall enter into every | 16 |
| distressed property conveyance in the form of a written | 17 |
| contract. Every distressed property conveyance contract must | 18 |
| be written in letters of a size equal to at least 12-point | 19 |
| boldface type, in the same language principally used by the | 20 |
| owner of the distressed property to negotiate the sale of the | 21 |
| distressed property, must be fully completed, signed, and dated | 22 |
| by the owner of the distressed property and the distressed | 23 |
| property purchaser, and must be witnessed and acknowledged by a | 24 |
| notary public, before the execution of any instrument of | 25 |
| conveyance of the distressed property. | 26 |
| Section 30. Distressed property conveyance contract terms. | 27 |
| Every contract required by Section 25 must contain the entire | 28 |
| agreement of the parties, be fully assignable, and survive | 29 |
| delivery of any instrument of conveyance of the distressed | 30 |
| property. Every lease entered into pursuant to a contract | 31 |
| required by Section 25 is terminable at will by the distressed |
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| property owner, without liability. Every contract required by | 2 |
| Section 25 must include the following terms: | 3 |
| (1) the name, business address, and the telephone | 4 |
| number of the distressed property purchaser; | 5 |
| (2) the address of the distressed property; | 6 |
| (3) the total consideration to be given by the | 7 |
| foreclosure purchaser in connection with or incident to the | 8 |
| sale; | 9 |
| (4) a complete description of the terms of payment or | 10 |
| other consideration including, but not limited to, any | 11 |
| services of any nature that the distressed property | 12 |
| purchaser represents he or she will perform for the owner | 13 |
| of the distressed property before or after the sale; | 14 |
| (5) a complete description of the terms of any related | 15 |
| agreement designed to allow the owner of the distressed | 16 |
| property to remain in the home such as a rental agreement, | 17 |
| repurchase agreement, contract for deed, or lease with | 18 |
| option to buy; | 19 |
| (6) a notice of cancellation as provided in this | 20 |
| Section; | 21 |
| (7) the following notice in at least 12-point boldface | 22 |
| type, if the contract is printed, or in capital letters, if | 23 |
| the contract is typed, and completed with the name of the | 24 |
| distressed property purchaser, immediately above the | 25 |
| statement required by this Section: | 26 |
| "NOTICE REQUIRED BY ILLINOIS LAW | 27 |
| Until your right to cancel this contract has ended, | 28 |
| ..................(Name) or anyone working for | 29 |
| ...................(Name) CANNOT ask you to sign or have | 30 |
| you sign any deed or any other document. You are urged to | 31 |
| have this contract reviewed by an attorney of your choice | 32 |
| within 5 business days of signing it."; and
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| (8) if title to the distressed property will be | 34 |
| transferred in the conveyance transaction, the following |
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| notice in at least 14-point boldface type if the contract | 2 |
| is printed, or in capital letters if the contract is typed, | 3 |
| and completed with the name of the distressed property | 4 |
| purchaser, immediately above the statement required by | 5 |
| this Section: | 6 |
| "NOTICE REQUIRED BY ILLINOIS LAW | 7 |
| As part of this transaction, you are giving up title to | 8 |
| your home.". | 9 |
| Section 35. Cancellation of a distressed property | 10 |
| conveyance contract.
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| (a) In addition to any other right of rescission, the owner | 12 |
| of the distressed property has the right to cancel any contract | 13 |
| with a distressed property purchaser until midnight of the | 14 |
| fifth business day following the day on which the owner of the | 15 |
| distressed property signs a contract that complies with | 16 |
| Sections 25 and 30 or until 8:00 a.m. on the last day of the | 17 |
| period during which the owner of the distressed property has a | 18 |
| right of redemption under the Illinois Mortgage Foreclosure Law | 19 |
| or the Property Tax Code, whichever occurs first. | 20 |
| (b) Cancellation occurs when the owner of the distressed | 21 |
| property delivers, by any means, written notice of cancellation | 22 |
| to the address specified in the distressed property conveyance | 23 |
| contract. | 24 |
| (c) A notice of cancellation given by the owner of the | 25 |
| distressed property need not take the particular form as | 26 |
| provided with the distressed property conveyance contract. | 27 |
| (d) Within 10 days following receipt of a notice of | 28 |
| cancellation given in accordance with this Section, the | 29 |
| distressed property purchaser shall return, without condition, | 30 |
| any original contract and any other documents signed by the | 31 |
| owner of the distressed property.
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| Section 40. Notice of cancellation of a distressed property |
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| conveyance contract.
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| (a) The contract must contain in immediate proximity to the | 3 |
| space reserved for the owner of the distressed property's | 4 |
| signature a conspicuous statement in a size equal to at least | 5 |
| 12-point boldface type, if the contract is printed, or in | 6 |
| capital letters, if the contract is typed, as follows: | 7 |
| "You may cancel this contract for the sale of your | 8 |
| house, without any penalty or obligation, at any time | 9 |
| before ................................(Date and time of | 10 |
| day).
See the attached notice of cancellation form for an | 11 |
| explanation of this right." | 12 |
| The distressed property purchaser shall accurately | 13 |
| enter the date and time of day on which the cancellation | 14 |
| right ends. | 15 |
| (b) The contract must be accompanied by a completed form in | 16 |
| duplicate, captioned "NOTICE OF CANCELLATION" in a size equal | 17 |
| to a 12-point boldface type, if the contract is printed, or in | 18 |
| capital letters, if the contract is typed, followed by a space | 19 |
| in which the distressed property purchaser shall enter the date | 20 |
| on which the owner of the distressed property executes any | 21 |
| contract. This form must be attached to the contract, must be | 22 |
| easily detachable, and must contain in at least 12-point type, | 23 |
| if the contract is printed, or in capital letters, if the | 24 |
| contract is typed, the following statement written in the same | 25 |
| language as used in the contract:
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| "NOTICE OF CANCELLATION
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| ...........................
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| (Enter date contract signed) | 29 |
| You may cancel this contract for the sale of your home, | 30 |
| without any penalty or obligation, at any time before | 31 |
| ....................(enter date and time of day).
To | 32 |
| cancel this transaction, mail or deliver a signed and dated | 33 |
| copy of this cancellation notice to | 34 |
| .......................(Name of purchaser) at |
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| .............................................. (Street | 2 |
| address of purchaser's place of business) NOT LATER THAN | 3 |
| ................................ (Enter date and time of | 4 |
| day). | 5 |
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I hereby cancel this transaction on ............... (Date) | 6 |
| ............................................... (Seller's | 7 |
| signature)". | 8 |
| (c) The distressed property purchaser shall provide the | 9 |
| owner of the distressed property with a copy of the contract | 10 |
| and the attached notice of cancellation immediately at the time | 11 |
| the contract is executed by all parties. | 12 |
| (d) The distressed property purchaser shall record the | 13 |
| contract with the recorder of deeds in the county where the | 14 |
| distressed property is located within 10 days of its execution, | 15 |
| provided the contract has not been canceled. If the contract is | 16 |
| not recorded, the contract and any conveyance made or given | 17 |
| pursuant to the terms of the contract are void ab initio. | 18 |
| (e) The 5 business days during which the owner of the | 19 |
| distressed property may cancel the contract shall not begin to | 20 |
| run until all parties to the contract have executed the | 21 |
| contract and the distressed property purchaser has complied | 22 |
| with all the requirements of this Section.
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| Section 45. Waiver of a distressed property conveyance | 24 |
| contract. Any waiver of the provisions of Sections 35 and 40 | 25 |
| are void and unenforceable as contrary to public policy, except | 26 |
| that a consumer may waive the 5-day right to cancel provided in | 27 |
| Section 35 if the property is subject to a foreclosure sale | 28 |
| within the 5 business days and the owner of the distressed | 29 |
| property agrees to waive his or her right to cancel in a | 30 |
| handwritten statement that is signed by all parties holding | 31 |
| title to the distressed property. | 32 |
| Section 50. Violations.
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| (a) It is a violation for a distressed property consultant | 2 |
| to:
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| (1) claim, demand, charge, collect, or receive any | 4 |
| compensation until after the distressed property | 5 |
| consultant has fully performed each service the distressed | 6 |
| property consultant contracted to perform or represented | 7 |
| he or she would perform; | 8 |
| (2) claim, demand, charge, collect, or receive any fee, | 9 |
| interest, or any other compensation for any reason that | 10 |
| exceeds 2 monthly mortgage payments of principal and | 11 |
| interest or the most recent tax installment on the | 12 |
| distressed property, whichever is less; | 13 |
| (3) take a wage assignment, a lien of any type on real | 14 |
| or personal property, or other security to secure the | 15 |
| payment of compensation. Any such security is void and | 16 |
| unenforceable; | 17 |
| (4) receive any consideration from any third party in | 18 |
| connection with services rendered to an owner unless the | 19 |
| consideration is first fully disclosed to the owner; | 20 |
| (5) acquire any interest, directly or indirectly, or by | 21 |
| means of a subsidiary or affiliate in a distressed property | 22 |
| from an owner with whom the distressed property consultant | 23 |
| has contracted; | 24 |
| (6) take any power of attorney from an owner for any | 25 |
| purpose, except to inspect documents as provided by law; or
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| (7) induce or attempt to induce an owner to enter a | 27 |
| contract that does not comply in all respects with Sections | 28 |
| 10 and 15 of this Act. | 29 |
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(b) A distressed property purchaser, in the course of a | 30 |
| distressed property conveyance, shall not: | 31 |
| (1) enter into, or attempt to enter into, a distressed | 32 |
| property conveyance unless the distressed property | 33 |
| purchaser verifies and can demonstrate that the owner of | 34 |
| the distressed property has a reasonable ability to pay for |
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| the subsequent conveyance of an interest back to the owner | 2 |
| of the distressed property and to make monthly or any other | 3 |
| required payments due prior to that time; | 4 |
| (2) fail to make a payment to the owner of the | 5 |
| distressed property at the time the title is conveyed so | 6 |
| that the owner of the distressed property has received | 7 |
| consideration in an amount of at least 82% of the fair | 8 |
| market value of the property; | 9 |
| (3) enter into repurchase or lease terms as part of the | 10 |
| subsequent conveyance that are unfair or commercially | 11 |
| unreasonable, or engage in any other unfair conduct; | 12 |
| (4) represent, directly or indirectly, that the | 13 |
| distressed property purchaser is acting as an advisor or a | 14 |
| consultant, or in any other manner represent that the | 15 |
| distressed property purchaser is acting on behalf of the | 16 |
| homeowner, or the distressed property purchaser is | 17 |
| assisting the owner of the distressed property to "save the | 18 |
| house", "buy time", or do anything couched in substantially | 19 |
| similar language; | 20 |
| (5) misrepresent the distressed property purchaser's | 21 |
| status as to licensure or certification; | 22 |
| (6) do any of the following until after the time during | 23 |
| which the owner of a distressed property may cancel the | 24 |
| transaction: | 25 |
| (A) accept from the owner of the distressed | 26 |
| property an execution of any instrument of conveyance | 27 |
| of any interest in the distressed property; | 28 |
| (B) induce the owner of the distressed property to | 29 |
| execute an instrument of conveyance of any interest in | 30 |
| the distressed property; or
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| (C) record with the county recorder of deeds any | 32 |
| document signed by the owner of the distressed | 33 |
| property, including but not limited to any instrument | 34 |
| of conveyance;
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| (7) fail to reconvey title to the distressed property | 2 |
| when the terms of the conveyance contract have been | 3 |
| fulfilled; | 4 |
| (8) induce the owner of the distressed property to | 5 |
| execute a quit claim deed when entering into a distressed | 6 |
| property conveyance; | 7 |
| (9) enter into a distressed property conveyance where | 8 |
| any party to the transaction is represented by power of | 9 |
| attorney; | 10 |
| (10) fail to extinguish all liens encumbering the | 11 |
| distressed property, immediately following the conveyance | 12 |
| of the distressed property, or fail to assume all liability | 13 |
| with respect to the lien in foreclosure and prior liens | 14 |
| that will not be extinguished by such foreclosure, which | 15 |
| assumption shall be accomplished without violations of the | 16 |
| terms and conditions of the lien being assumed. Nothing | 17 |
| herein shall preclude a lender from enforcing any provision | 18 |
| in a contract that is not otherwise prohibited by law; | 19 |
| (11) fail to complete a distressed property conveyance | 20 |
| before a notary in the offices of a title company licensed | 21 |
| by the Department of Financial and Professional | 22 |
| Regulation; or | 23 |
| (12) cause the property to be conveyed or encumbered | 24 |
| without the knowledge or permission of the distressed | 25 |
| property owner, or in any way frustrate the ability of the | 26 |
| distressed property owner to complete the conveyance back | 27 |
| to the distressed property owner. | 28 |
| (c) There is a rebuttable presumption that an appraisal by | 29 |
| a person licensed or certified by an agency of this State or | 30 |
| the federal government is an accurate determination of the fair | 31 |
| market value of the property. | 32 |
| (d) "Consideration" in item (2) of subsection (b) means any | 33 |
| payment or thing of value provided to the owner of the | 34 |
| distressed property, including reasonable costs paid to |
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| independent third parties necessary to complete the distressed | 2 |
| property conveyance or payment of money to satisfy a debt or | 3 |
| legal obligation of the owner of the distressed property. | 4 |
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"Consideration" shall not include amounts imputed as a | 5 |
| downpayment or fee to the distressed property purchaser, or a | 6 |
| person acting in participation with the distressed property | 7 |
| purchaser. | 8 |
| (e) An evaluation of "reasonable ability to pay" under | 9 |
| subsection (b)(1) of this Section 50 shall include debt to | 10 |
| income ratio, fair market value of the distressed property, and | 11 |
| the distressed property owner's payment history. There is a | 12 |
| rebuttable presumption that the distressed property purchaser | 13 |
| has not verified reasonable payment ability if the distressed | 14 |
| property purchaser has not obtained documents of assets, | 15 |
| liabilities, and income, other than a statement by the owner of | 16 |
| the distressed property.
| 17 |
| Section 55. Civil remedies.
| 18 |
| (a) A violation of any of the provisions of this Act | 19 |
| constitutes an unlawful practice under the Consumer Fraud and | 20 |
| Deceptive Business Practices Act. All remedies, penalties, and | 21 |
| authority granted to the Attorney General or State's Attorney | 22 |
| by the Consumer Fraud and Deceptive Business Practices Act | 23 |
| shall be available to him or her for the enforcement of this | 24 |
| Act.
| 25 |
| (b) A consumer who suffers loss by reason of any violation | 26 |
| of any provision of this Act may bring a civil action in | 27 |
| accordance with the Consumer Fraud and Deceptive Business | 28 |
| Practices Act to enforce that provision. All remedies and | 29 |
| rights granted to a consumer by the Consumer Fraud and | 30 |
| Deceptive Business Practices Act shall be available to the | 31 |
| consumer bringing such an action.
The remedies and rights | 32 |
| provided for in this Act are not exclusive, but cumulative, and | 33 |
| all other applicable claims, including, but not limited to, |
|
|
|
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| 1 |
| those brought under the doctrine of equitable mortgage, are | 2 |
| specifically preserved. | 3 |
| Section 60. Criminal mortgage rescue fraud. A person | 4 |
| commits the offense of criminal mortgage rescue fraud when he | 5 |
| or she intentionally violates any provision enumerated in | 6 |
| Section 50 of this Act.
| 7 |
| Section 65. Criminal penalties. A person who commits the | 8 |
| offense of criminal mortgage rescue fraud is guilty of a Class | 9 |
| 2 felony. | 10 |
| Section 300. The Consumer Fraud and Deceptive Business | 11 |
| Practices Act is amended by changing Section 2Z as follows:
| 12 |
| (815 ILCS 505/2Z) (from Ch. 121 1/2, par. 262Z)
| 13 |
| Sec. 2Z. Violations of other Acts. Any person who knowingly | 14 |
| violates
the Automotive Repair Act, the Automotive Collision | 15 |
| Repair Act,
the Home Repair and Remodeling Act,
the Dance | 16 |
| Studio Act,
the Physical Fitness Services Act,
the Hearing | 17 |
| Instrument Consumer Protection Act,
the Illinois Union Label | 18 |
| Act,
the Job Referral and Job Listing Services Consumer | 19 |
| Protection Act,
the Travel Promotion Consumer Protection Act,
| 20 |
| the Credit Services Organizations Act,
the Automatic Telephone | 21 |
| Dialers Act,
the Pay-Per-Call Services Consumer Protection | 22 |
| Act,
the Telephone Solicitations Act,
the Illinois Funeral or | 23 |
| Burial Funds Act,
the Cemetery Care Act,
the Safe and Hygienic | 24 |
| Bed Act,
the Pre-Need Cemetery Sales Act,
the High Risk Home | 25 |
| Loan Act, the Payday Loan Reform Act, the Mortgage Rescue Fraud | 26 |
| Act, subsection (a) or (b) of Section 3-10 of the
Cigarette Tax | 27 |
| Act, the Payday Loan Reform Act, subsection
(a) or (b) of | 28 |
| Section 3-10 of the Cigarette Use Tax Act, the Electronic
Mail | 29 |
| Act, paragraph (6)
of
subsection (k) of Section 6-305 of the | 30 |
| Illinois Vehicle Code, Article 3 of the Residential Real |
|
|
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| 1 |
| Property Disclosure Act, the Automatic Contract Renewal Act, or | 2 |
| the Personal Information Protection Act commits an unlawful | 3 |
| practice within the meaning of this Act.
| 4 |
| (Source: P.A. 93-561, eff. 1-1-04; 93-950, eff. 1-1-05; 94-13, | 5 |
| eff. 12-6-05; 94-36, eff. 1-1-06; 94-280, eff. 1-1-06; 94-292, | 6 |
| eff. 1-1-06; revised 8-19-05.)
| 7 |
| Section 999. Effective date. This Act takes effect January | 8 |
| 1, 2007.".
|
|