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Have reviewed Frank Watson Senate Republican Leader's New Laws for 2008 an "A" to "Z" review of more than 100 new laws that are slated to take effect January 1.
Of particular interest to the business community and the real estate Industry:
Business Loans (HB 1241/P.A. 95-0097)
Computer Tampering (SB 142/P.A. 95-0326)
Employees (HB 1795/P.A. 95-0026)
Foreclosure (SB 258/P.A. 95-0262)
Lead Windows (SB 942/P.A. 95-0492)
Mobile Home Owners (SB 688/P.A. 95-0688)
Open Space (HB 586/P.A. 95-0070)
New Laws for 2008
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RE: New Illinois Laws, 2008
Posted by: Howard Highland Park IL Real Estate
Date: Apr. 22, 2008
The new Foreclosure law (SB 258/P.A. 95-0262) helps protect tenants and their rights but also makes harder for people to acquired properties that are in foreclosure at the present time. If you add the time that it takes to complete the foreclosure proccess and the new tenant protection law then we are talking about year before the properties are back in the market. I dont think this makes much sense.
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