Regency Savings Bank v. Chavis

State: Illinois

Court: 2nd District Appellate

Docket No: 2-01-1321 Rel

Case Date: 09/20/2002

No. 2--01--1321

IN THE

APPELLATE COURT OF ILLINOIS

SECOND DISTRICT

REGENCY SAVINGS BANK, as	)	Appeal from the Circuit Court
Successor in Interest to	)	of Lake County.
Sterling Savings Bank,	)
	)
Plaintiff-Appellee,	)
	)
v.	)	No. 00--CH--8
	)
SIGMUND J. CHAVIS and HARRIET	)
CHAVIS,	)
	)
Defendants-Appellants	)
	)
(Department of Revenue, Sybil	)
Virshbo, La Salle National Bank,	)	Honorable
Unknown Owners, Nonrecord	)	Wallace B. Dunn and
Claimants, Unknown Tenants and	)	Mitchell L. Hoffman,
Occupants, Defendants).	)	Judges, Presiding.

JUSTICE BYRNE delivered the opinion of the court:

This appeal arose from an action brought by plaintiff,Regency Savings Bank, to foreclose its mortgage on the residenceof defendants, Sigmund J. Chavis and Harriet Chavis. The trialcourt found that defendants were entitled to rescind the note andmortgage because they were not provided with proper documentationregarding their rescission rights pursuant to section 1635 of theTruth in Lending Act (Act) (15 U.S.C.