Quinn signs law to fast-track foreclosures


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Posted Online: Feb. 08, 2013, 1:53 pm
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CHICAGO (AP) Gov. Pat Quinn has signed a new law that's designed to speed up Illinois' foreclosure process.

The governor's office says the law will help restore neighborhoods and property values by decreasing the time a home sits empty and getting properties back on the market. The foreclosure process now takes nearly two years, and the law is designed to shorten that to a few months.

Quinn says the bill also will allow the state to invest in Illinois families by preventing foreclosures in the first place.

The law, for example, will provide about $13 million each year for housing counseling assistance, which is designed to help 18,000 households struggling to keep their homes.

The law takes effect June 1.














 



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  Today is Monday, July 28, the 209th day of 2014. There are 156 days left in the year.

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1889 -- 125 years ago: The congregation of the First Methodist church worshiped in Harper's theater, where construction work is being done at the church site.
1914 -- 100 years ago: Three-eye baseball for Moline was assured the Danville Franchise will be transferred to the Plow city.
1939 -- 75 years ago: Roseville Methodist Church is observing its 100th anniversary.
1964 -- 50 years ago: The last remaining unfinished portion of Interstate 80 between the Quad-Cities and Joliet will be opened to traffic by Aug 12.
1989 -- 25 years ago: Of all the highlights of the last 12 years, this is the greatest of all, said Dennis Hitchcock, producer director of Circa '21 Dinner Playhouse, as he torched the mortgage, clearing a $220,000 loan financing the downtown Rock Island theater's beginnings in 1977.




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