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Benefit from the Foreclosure Mess

By Peter Olson

I had lunch with a lawyer friend/mentor recently who mentioned some court appointed work he'd gotten involved with recently and I'd guess there's plenty of work in this area now. The role is that of "Special Administrator" in foreclosure cases where a defendant is deceased. This is my understanding...Plaintiff files suit against Defendant(s) on a mortgage typically. A/the D is dead. Court then appoints Special Administrator to do an investigation of decedent's circumstances and to look at whether or not there might be a will or an heir out there who wants this house that is now being foreclosed but may have some equity. I don't practice foreclosure and couldn't find the basis for these appointments in the foreclosure statute. It may just stem from 735 ILCS 5/2-1008 which deals with how a trial court should deal with the death of a litigant.

My colleague suggested he found this opportunity through an attorney colleague who worked at one of Chicago's largest foreclosure firms and now this firm appoints him on many of its cases. So this might be your link to this sort of work...seek this our from Plaintiff-side foreclosure firms.

Full post as published by Solo In Chicago on October 16, 2008 (boomark / email).