Legal Question in Real Estate Law in Illinois

Real estate

I am in the process of constructing a four unit building in Chicago, IL. I secured a loan through a bank for 824,000 to complete the construction. That bank removed $44,000 from the loan and paid another loan that was not mine. We were unable to complete the construction because the $44k was removed and they are in the process of foreclosure.

my question: do I have a legitimate right to sure for damages because they ruined my business??


Asked on 12/04/08, 7:13 pm

1 Answer from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Real estate

You may have a cause of action. However, the entire transaction and all papers need to be reviewed.

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Answered on 12/04/08, 7:58 pm


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