Illinois Supreme Court Decision Secures a Roetzel Victory in Landmark Illinois Mortgage Foreclosure Law Case

February 10, 2014 // // Roetzel is pleased to announce that the Illinois Supreme Court has declined to hear the petition for leave to further appeal in Turczak and Lew v. First American Bank, et al., thus solidifying the appellate court victory of the firm's client, First American Bank, in a landmark case that clarified the Illinois Mortgage Foreclosure Law and defined the options available to banks against mortgagers who have defaulted on their payments.

"This is a major victory for our clients and very good news for Illinois banks," said Mark D. Belongia, a Roetzel partner and lead counsel in the case. "The fact that the Supreme Court has declined to hear any further appeal sets the holding of the appellate court firmly in place, thus giving Illinois banks firm guidance on their rights and obligations under the Illinois Mortgage Foreclosure Law."

The Supreme Court's denial of any further appeal serves to uphold two important findings by the appellate court. First, the decision means that a bank may proceed consecutively in actions on a promissory note and to foreclose on the mortgage and secondly, that unless and until a sheriff's sale of a foreclosed property is approved by judicial order, the rights of interested parties – including those of banks holding junior mortgages on the property – are not extinguished.

About Roetzel

Roetzel is a full-service law firm with more than 200 attorneys in offices located throughout Ohio and Florida and in Chicago, New York and Washington, D.C. The firm provides comprehensive legal services to national and international corporations, closely held and family-run businesses, institutions, organizations and individuals. For more information, visit

SOURCE Roetzel


Amy L. Clark
Marketing Communications Specialist



Share this Story:


comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

IceBorn Water and Ice Vending
IceBorn was developed to be the premier consumer water and ice vending brand.
Put down the burger, the pizza or the nachos. Those categories are saturated and it is next to impossible to find real estate.
AAMCO Transmissions and Total Car Care
AAMCO franchisees benefit from joining a brand that has been in business for over 50 years. Our iconic, Double A, Beep Beep, M-C-O mnemonic brings...
Jersey Mike's Subs
Jersey Mike's, a fast-casual sub sandwich franchise with more than 1,500 locations open and under development nationwide, believes that making a sub...
ProSource is America's largest wholesale home improvement franchise; a truly unique B2B franchise model. Our owners enjoy strong cash flow with...

Subscribe to Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)