Bill Title: Amends the Residential Real Property Disclosure Act. Provides that a lender, or agent of a lending company, when offering terms for a mortgage note for the purchase of a manufactured home, shall disclose: (1) any affiliation between the landlord and the lending company; (2) that the loan is a chattel loan; (3) that the terms of a chattel loan prohibit refinancing; and (4) any other reason that prohibits refinancing.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3437 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-13	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2020-03-04	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3437 currently on file.

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