Our firm represents a number of banks and private lenders. Economic challenges over the past several years have created a number of issues for these financial entities. We have assisted our clients in negotiating and documenting challenging loan workout transactions, including forbearance agreements, deed in lieu of foreclosure agreement and loan modifications.
We have also prosecuted scores and scores of mortgage foreclosure lawsuits involving commercial and residential real estate. Those foreclosure lawsuits have involved properties and lawsuits in northern Illinois and in Boone, Bureau, Cook, DeKalb, DuPage, Grundy, Kane, Kendall, LaSalle, Lee, McHenry, Winnebago, Whiteside and Will counties.
In keeping with the notion that desperate times call for desperate measures, we have encountered and defeated a number of creative defenses asserted by property owners in distress. We bring to these cases a broad base of experience in litigation and resolution. We are quite familiar with the Illinois mortgage foreclosure law and the applicable Illinois Supreme Court rules, and the abilities of a defendant to use those to delay the prosecution of a case. We have assisted our clients in effectively navigating those statutory prescriptions to reach a resolution that transforms a troubled asset into either a restructured and performing loan or real estate owned by the bank.
In the final part of that process, we have sold numerous properties that our bank clients have recovered through the foreclosure process. Our firm’s ability to seamlessly switch between litigation practice and transaction practice has been enormously beneficial for our financial institution clients.
Our team understands the complexities and difficulties that come with banking litigation, and we know how to create a strategy to overcome any obstacle in a swift and elegant manner.
If you are ready to meet with a banking litigation lawyer, contact our office.