Category Archives: Foreclosure Defense
How Does Bankruptcy Help Illinois Families Stay In Their Homes?
Briefly, bankruptcy stops pending foreclosure, gives distressed homeowners a fair chance to catch up on past-due payments, and may reduce your monthly payments after the case is finalized. It’s all part of the fresh start with the Bankruptcy Code guarantees. These fresh starts are available to all “honest but unfortunate” debtors. This phrase applies… Read More »
Coming Changes To Illinois Foreclosure Law
Several tweaks to the Illinois Mortgage Foreclosure Law will expire around the end of the year, barring some unforeseen legislative action. One provision, the GPN rule, expired in July 2016. Lawmakers allowed the Grace Period Notice loophole to lapse, in part, because of a lower foreclosure volume. Similarly, a 0.1 percent foreclosure sale fee… Read More »
Struggling to Pay Your Mortgage In Illinois? New Statewide Program Could Help
There are countless reasons why people fall behind on their mortgage payments and are forced to face the possibility of losing their home to foreclosure. Some of these reasons are due to decisions that the borrower makes while others are simply beyond their control. However, help is on the way as Illinois is reopening… Read More »
Zombie Foreclosures In Illinois
According to the Scotsman Guide, Illinois state had the fifth highest zombie foreclosure rate in the nation in 2015. Our state had 1,174 “zombie foreclosures”, which means that over a thousand people in Illinois last year thought that they had lost their property to foreclosure when in reality they actually retained title to the… Read More »
