Tag Archives: Chicago Foreclosure Defense Lawyers
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 »
Loan Modifications in Chicago
Last month the U.S. Department of Housing and Urban Development (HUD) announced that it is awarding $42 million in housing counseling grants to groups across the country, including $890,000 to agencies in Illinois. An article in The Chicago Tribune reports that Open Communities, an advocacy group that provides fair and affordable housing counseling services… 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 »
