Chicago, Illinois Nov 10, 2023 (Issuewire.com) - In a recent legal case that garnered significant attention in Illinois, the State's judiciary system faced a complex legal issue. The case in question, Byline Bank f/k/a North Community Bank v. Frank J. Barrett et al (Case No. 18CH 13221), showcased the intricacies of mortgage foreclosure, property rights, and judicial proceedings. The property, located at 1600-1606 Westchester Boulevard, is a single-story mixed-use building that includes both commercial and residential space. However, Byline Bank has fraudulently claimed that the building is two separate buildings on two separate lots. This situation unfolded when the mortgagors, Frank J. Barrett and Darlene A. Barrett, allegedly defaulted on their mortgage obligations. Byline Bank, as the plaintiff, sought legal remedies through the Illinois Mortgage Foreclosure Law, aiming to foreclose on the mortgaged properties. The court approved the report of sale and distribution, confirming the sale of the properties. The property dispute has brought to light allegations of fraudulent actions by a major bank, Byline Bank, and its attorney, Scott Kenig. The case, presided over by Judge Edward Robles, centers around discrepancies in the legal description of a property and the alleged consequences of these discrepancies. Barrett, argues that their property was wrongly seized by the bank for significantly less than its actual fair market value of $580,000.
Property Claim Key points:
Claim from Property owners
The property owner provides a number of pieces of evidence, including:
Westchester, IL Byline Bank, an Illinois banking corporation, announced today that it has appointed Antje Gehrken of A.R.E. Partners in Chicago, Illinois as receiver for the non-residential property located at 1600 Westchester Boulevard, Westchester, Illinois 60154. The property is the subject of Byline Banks foreclosure action against defendants Frank and Darlene Barrett. The defendants defaulted on their mortgage obligations, and Byline Bank filed a complaint seeking to foreclose the mortgage. The court granted Byline Banks motion for the appointment of a receiver, finding that there is a reasonable probability that Byline Bank will prevail on a final hearing in the matter and that the defendants have not shown good cause why the receiver should not be appointed. As a receiver, Ms. Gehrken will take possession of the property and manage it as would a reasonably prudent person. She will be responsible for collecting rent, paying expenses, and maintaining the property. The appointment of a receiver is a common step in mortgage foreclosure cases involving non-residential properties. So, the fraudulently procured receivership ended in December 2022.
Despite this evidence, Byline Bank has continued to claim that the property is two separate buildings. This claim has allowed the bank to illegally foreclose on the property and seize it for far less than its fair market value. The new evidence that has been uncovered shows that Byline Bank's foreclosure of this property was a deliberate act of fraud. The bank has knowingly misrepresented the nature of the property in order to take it away from its owners.
This case is a clear example of how banks can abuse their power and exploit homeowners. Byline Bank has shown that it is willing to lie and cheat in order to get what it wants. We call on Byline Bank to immediately return the property to its rightful owners. We also call on the authorities to investigate this case and hold Byline Bank accountable for its actions. Finally, Barret, the property owner is now in total possession of their property while the fraudulent foreclosure is under appeal.
The overarching message is that following the money and understanding the legal system is essential when navigating foreclosure, real estate, and property rights. It's a reminder that legal processes should be diligently followed to ensure fair and just outcomes in property-related legal disputes. As we await further updates on this case and other related matters, it is important for all stakeholders to demand clarity, transparency, and accountability within the legal system. This case highlights the importance of upholding the principles upon which our judicial system is founded: fairness, transparency, and adherence to the rule of law.
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Source :Frank Barrett
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