CIV PRO-FORECLOSURE PREVENTION Senate SponsorsSen. Jacqueline Y. Collins-Linda Holmes 1/12/2011SenateSession Sine Die 735 ILCS 5/Art. XV Pt. 18 heading new735 ILCS 5/15-1801 new735 ILCS 5/15-1805 new735 ILCS 5/15-1810 new735 ILCS 5/15-1815 new735 ILCS 5/15-1820 new735 ILCS 5/15-1825 new735 ILCS 5/15-1830 new735 ILCS 5/15-1835 new735 ILCS 5/15-1840 newAmends the Code of Civil Procedure by adding an Article that may be cited as the Mortgage Foreclosure Prevention Law of 2009. Provides that an eligible borrower has a right to defer a judicial sale for a specified period by providing an affidavit to the foreclosing lender. When the deferment period ends or the deferment is lost, a lender may schedule a sale by publishing a specified newspaper notice and serving a copy on those on the premises, 4 weeks before the sale. Provides a formula to set the borrower's monthly payment. Provides that a borrower loses the right to deferment if he or she ceases to reside on the premises. Provides for mortgage foreclosure counselors. Provides that a foreclosing lender and a borrower must negotiate in good faith. Provides that a borrower may dispute a deferment cancellation through arbitration. Provides that lenders shall send to borrowers a mandated notice about deferment. Provides that a lender who acts in bad faith or recklessly in violation of these provisions is liable to a person injured for actual damages, statutory damages up to $25,000, punitive damages, costs, and attorney's fees. Makes other changes. Effective 7 days after becoming law. 3/19/2009SenateFiled with Secretary by Sen. Jacqueline Y. Collins 3/19/2009SenateFirst Reading 3/19/2009SenateReferred to Assignments 2/10/2010SenateAssigned to Financial Institutions 2/10/2010SenateAdded as Chief Co-Sponsor Sen. Linda Holmes 3/3/2010SenateTo Financial Institutions Subcommittee on Mortgages 3/8/2010SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die