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State pays nearly $78,000 to Illinois homeowners hurt by American Escrow closure
CHICAGO, IL - November 18, 2009 - (RealEstateRama) -- Thirty-four Illinois homeowners were made whole this month when the Illinois Department of Financial and Professional Regulation (IDFPR) repaid all the money lost from their escrow funds earlier this year. The homeowners were in default for taxes and insurance coverage after Chicago-based American Escrow, LLC went out of business without making the obligatory property tax and insurance payments from their escrow accounts.
