Beruflich Dokumente
Kultur Dokumente
Disclaimer: Use this document at your own risk. No legal advice is intended nor may be
inferred.
4. Statutory Defenses.
4.1. Usury (which usually comes into play in cases involving private
lenders).
5.3. An assignment was made by or to a party who was not the holder
of the note (e.g., Mortgage Electronic Recording Systems [MERS] issues).
© Sachin Jay Darji, 2011. Licensed under a Creative Commons Attribution 3.0 Unported License.
8. Failure to Give Notice of Default Required under Loan Documents or
by Law.
12.1. One action rules, no concurrent pending action rules, and similar
statutes.
14.3. Merger.
14.4. Laches.
© Sachin Jay Darji, 2011. Licensed under a Creative Commons Attribution 3.0 Unported License.
14.5. Unclean Hands.
15.1. Lender failed to fund loan draws, or was untimely in loan draws.
15.9. Unconscionability.
© Sachin Jay Darji, 2011. Licensed under a Creative Commons Attribution 3.0 Unported License.
22. Obligor Did Not Dishonor.
34. Deed-in-lieu of foreclosure. Under Illinois law, the mortgagee, with the
consent of the mortgagor, takes title to the property subject to any other claims or liens
affecting the property. Acceptance of a deed-in-lieu relieves from personal liability all
persons who may owe payment or the performance of other obligations secured by the
© Sachin Jay Darji, 2011. Licensed under a Creative Commons Attribution 3.0 Unported License.
mortgage except to the extent that person agrees not to be relieved in an instrument
executed contemporaneously..
36.1. Obtain court order denying lender the right to credit bid.
[END]
© Sachin Jay Darji, 2011. Licensed under a Creative Commons Attribution 3.0 Unported License.