Chicago Foreclosure Defense Attorney

We are very familiar with the process of arranging a short sale if you do not wish to retain the property. It is important that this process is managed carefully, as you do not want to face owing the difference between the sales price and what you owe your lender. You may be able to get help to refinance under federal programs put in place to assist people just like you to get a mortgage payment under control. We have the knowledge, skills and experience to negotiate for you with your lender in a range of alternatives, including strategic defaults, that could help resolve your mortgage problem.

Underwater Mortgages in IL

There are many people that purchased homes during the sub-prime mortgage boom, only to have the value of the property plummet, leading to the inability to refinance at a reasonable rate. Those who were caught in this situation then were faced with a mortgage payment that was doubled or tripled, with the lender refusing to refinance due to the reduced value of the home, or based upon new criteria for the credit worthiness of borrowers. You are not alone; many, many people were caught in this position, and are struggling to stay current on a mortgage on a home that has lost a significant amount of value. Some have second and third mortgages, making matters worse. We know what to do, and we urge you to connect with us before the foreclosure proceedings move forward.

Your State and Federal Rights as a Consumer 

As a consumer, you have rights protected under both state and federal laws. There have been many lenders that have come under fire for lending tactics that are illegal, including some of the largest and most respected banks in the nation. The fact of a pending foreclosure is extremely stressful and frightening – one can feel that there is no hope, or that these big lenders hold all the cards. This is far from true.

You owe it to yourself to find out what could be done in your case, and to speak with a law firm that has years of experience and success in foreclosure defense. The first step is to contact us so we can review your loan documents, your situation, and what exactly has occurred. We are advocates for the "little guy" and we fight back against big lenders that want to take away your property.

Unfortunately, if you just walk away from a property in foreclosure, it won't end your financial obligations. Should the bank or other lender then sell the property for less than the mortgage amount, which is common, they will hold you accountable for the deficiency, and seek a judgment against you. We have the strategies to end this terrible process and get your situation under control and back on track. Want to save your home from foreclosure? You have come to the right place.