Real estate — mortgage, rights of the obligor

Posted April 14, 2014 3:05 PM

Where a party seeks to rescind a contract under the Truth in Lending Act, that party must be the obligor to be entitled to rescission. The Illinois Appellate Court, 1st District, 6th District, affirmed the decision of Cook County Circuit Judge Robert E. Senechalle Jr. On Oct. 14, 2010, Financial Freedom Acquisition LLC filed for foreclosure on a property owned by Standard Bank and Trust Co., who, as a land trust, held ownership of the property. Financial Freedom claimed in their complaint that the death of the …

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