Answered
December 26, 2008 15:11.
Yes, it definitely IS possible to bring an action against the bank for violations of applicable state laws. This can be a very tricky area, some banks are federally regulated, and therefore subject to federal law, and not necessarily to state law. However, it is far from unusual for lenders in today's foreclosure crisis to fail to follow laws to which they are subject.
I defend people in foreclosure in Florida. I FREQUENTLY find that lenders have failed to follow, or have ignored, or intentionally skirted the law. I often bring actions against them on behalf of my clients.
This is a very specialized area of practice. You are fortunate in that Illinois has some highly expert foreclosure defense and financial services defense attorneys. The National Association of Consumer Advocates (NACA) is a non-profit consumer advocacy organization. NACA maintains a web site at
www.naca.net where it lists geographically consumer law attorneys all over the US. If you don't already have an attorney, please look there for someone in your area who specializes in foreclosure defense to review the details with you and advise you.