Quinn Signs Foreclosure Law - FOX 18 Quad Cities News and Weather

Quinn Signs Foreclosure Law

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Governor Quinn signed a new law to protect Illinois renters. Governor Quinn signed a new law to protect Illinois renters.

 

A new law protects Illinois renters who live in multi-family properties when they are in foreclosure.

Governor Quinn signed the measure that requires owners of a foreclosed residential property to honor the existing lease or give renters adequate time to move. The law is designed to strengthen the rights of tenants.

"We don't want homelessness in Illinois. We want to prevent homelessness," said Quinn. "We want to prevent foreclosure wherever possible. That's why we work together as a family as a community."

The new law takes effect after 90 days.

 

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