Illinois Compiled Statutes 765 ILCS 920 — Mortgage Payment Statement Act.

Short title

Short title. This Act may be cited as the Mortgage Payment Statement Act. (Source: P.A. 86-1324.)

As used in this Act: "Agreement" means any mortgage, trust deed or other conveyance having the effect of a mortgage, or any contract for deed, with respect to real property situated in this State

As used in this Act: "Agreement" means any mortgage, trust deed or other conveyance having the effect of a mortgage, or any contract for deed, with respect to real property situated in this State. "Obligor" means the mortgagor, the grantor of a trust deed or similar conveyance, the purchaser under a contract for deed,…

When any agreement provides for periodic payments to be made by the obligor to the obligee, which payments are to include taxes or insurance, or both, with respect to the property covered by the agreement, and the amount of such periodic payments is increased by reason of an increase in taxes or insurance premiums, or…