Illinois Mortgage Lawyers

Many homeowners are currently facing mortgage foreclosure. Our law firm defends homeowners facing foreclosure if they have a good defense or counterclaim and can afford and wish to save their home.

To get started today, fill out our online contact form or call 312-739-4200!

If you want to save your home, and you have not yet applied for a loan modification, you should do so right away, and if your mortgage company participates in the Making Homes Affordable or HAMP program you should insist on applying for a HAMP modification. If you have an application for a HAMP modification pending, the mortgage company is supposed to suspend the foreclosure until it is resolved.

Many courts, including the Circuit Court of Cook County, now have mediation programs, and foreclosure defendants can request to participate and attempt to negotiate a solution with your mortgage company, such as a loan modification. More information about the Cook County program can be found here: The Chancery Division of the Cook County Court also has a self-help desk that homeowners who are defendants in foreclosure cases can consult for assistance. Information about the self-help desk is available by clicking here.

Unfortunately, some homeowners can no longer afford their homes. If you are in that situation, there are options available, including a deed in lieu of foreclosure or a short sale. You should consult an attorney before you pursue these options, as you may still end up personally liable for the difference between the short sale amount and the balance owed on the loan. In addition, some lenders will pay “cash for keys” and give you cash in exchange for moving out of the property by a certain date and leaving the property in good condition.

Illinois Mortgage Foreclosure Grace Period Law

If a mortgage foreclosure was filed against you after April 9, 2010, concerning a home in which you live, you should have received a notice advising you of your right to obtain housing counseling. Once the notice is sent, the lender cannot file a foreclosure against you until 30 days have passed. If you seek counseling during that 30-day period, the lender, you may be entitled to another 30-day grace period.

Contact an Experienced Lawyer

If you have been the victim of unfair practices in connection with trying to obtain a loan modification from your mortgage company, call the lawyers at Edelman, Combs, Latturner & Goodwin, LLC, and we may be able to assist you.

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The consumer protection and class action lawyers of Edelman, Combs, Latturner & Goodwin, LLC, represent clients throughout Illinois, and in federal courts in Illinois, Wisconsin, Indiana, and Michigan, and will consider substantial cases in other jurisdictions.