My home in IL is in foreclosure with the primary mortgage company. The 2nd lien holders outstanding loan is higher than the 1st lien holder and they are now requesting a judgement of foreclosure, an order granting possession, judgement for deficiency if any, and attorney fees.
How can I avoid/delay granting of possession for as long as possible? I will probably have to file bankruptc eventually.
First of all, an Illinois foreclosure takes at least 9-12 months to complete depending on the county, even with the most passive of defenses. However, if you defend the case actively, you can delay the foreclosure even longer. Each case is different.
You also may have substantial defenses to mortgage foreclosure based on Truth in Lending Act as well as other defenses arising from practices in the mortgage industry generally.
You are located in Lake County Illinois and our offices are in Waukegan. We are most familiar with practice in Lake County foreclosure Court. Moreover, we represent people in bankruptcy cases. Feel free to contact us.