This Article looks at the New Illinois Mortgage Foreclosure Act as it relates to priority in the foreclosure of construction loans. In addition, the Article explores the impact of the various Uniform Acts on construction loan priority. The Article concludes that Illinois' adoption of the Uniform Commercial Code approach brings Illinois into line with modern thinking in this area of the law.
Northern Illinois University Law Review
"Mortgage Priority Problems: The New Illinois Mortgage Foreclosure Act and the Impact of the Uniform Acts,"
Northern Illinois University Law Review: Vol. 8:
1, Article 6.
Robert Kratovil, Mortgage Priority Problems: The New Illinois Mortgage Foreclosure Act and the Impact of the Uniform Acts, 8 N. Ill. U. L. Rev. 1 (1987).