Illinois Foreclosure Legal Guides (14 found)

Written by Ahmad Tayseer Sulaiman
There are two major statutory rights under the Illinois Mortgage Foreclosure Act. The first is a Reinstatement and the second is the Statutory right of Redemption.
3 of 3 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Reinstatement of the loan is a right given by the Illinois Mortgage Foreclosure Act which allows the Mortgagor (the Borrower) to cure the default.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
A Borrower in Foreclosure has the right to refinance, however finding a willing lender is difficult.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Often when asked what defenses an individual may have against a bank in foreclosure case, Attorneys will say there is no known defense. The fact of the matter is there are defenses and everyday people are saving their homes by becoming informed on this important subject.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Few people know much about the process. Foreclosure law is a very specialized area of the law. Because no two Foreclosures are identical, general answers are often wrong. Finding individuals to give good advice is often difficult.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Finding qualified legal counsel is difficult when it comes to Foreclosure matters. Knowing what to look out for in regards to qualifications will give the Client a better chance at the outcome sought, because it is the knowledge of the Attorney that the Client is relying on to find a solution.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Borrowers often wait until it is too late to take action in addressing the problem. Many stopped making payments because of an illness and just assume that they can start making payments after they have stopped. Time is of the essence and the Borrower must stay in communication with the lender.
3 of 3 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
A Deed In Lieu of Foreclosure is a legal mechanism by which the borrower will deed the property back to the Lender in exchange for a full accord and satisfaction of the debt owed upon the property. The procedure is more negotiation than legal work but it may be used if the fact pattern warrants.
9 of 9 users found this helpful. Posted in Foreclosure 6 months ago. Jurisdiction: Illinois

Written by David Leibowitz
Don’t ignore demands or legal papers you get from a mortgage lender or its attorney. You may have substantial rights, but only if you defend yourself.
1 of 1 users found this helpful. Posted about 1 year ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
This is the most commonly asked question. Often Clients are overcome by fear. Instead of searching for solutions they are so paralyzed by fear that all they want to know is how long they have until they will be evicted from their home. Each case is different but there is a general timeline.
4 of 4 users found this helpful. Posted in Real Estate 5 months ago. Jurisdiction: Illinois

Written by Zedrick Thomas Braden III
More people are getting stuck with mortgages in homes they do not live in as investors.
Posted in Foreclosure 8 months ago. Jurisdiction: Illinois

Written by Ahmad Tayseer Sulaiman
Much has been written about Loan Modifications. The reality is that even after all the press about this subject many in the general population do not fully grasp what a Loan Modification is. Notwithstanding popular belief, banks are not under any legal obligation to complete a Loan Modification.
2 of 2 users found this helpful. Posted in Foreclosure 5 months ago. Jurisdiction: Illinois

Written by Michael J. Helfand
There are a lot of loan modification services out there, but a loan modification attorney can be an excellent alternative. Here’s what a loan modification attorney can do for you.
Posted in Foreclosure about 1 month ago. Jurisdiction: Illinois

Written by Avvo Staff
Many legal resources are available for free or at low cost. This guide covers those resources of most interest to Illinois consumers looking for urgent legal guidance.
3 of 6 users found this helpful. Posted about 1 year ago. Jurisdiction: Illinois