Chicago, IL
Foreclosure Lawyer at Chicago, IL
Practice Areas: Foreclosure, Personal Injury ... +3 more
Below is an important link to the November 16, 2010 Congressional Oversight Panels Report examining the consequences of mortgage irregularities. The 127 page report discusses assignments, MERS,the prob...
See Full GuideWells Fargo v McNee(11/11) As the First Department held in Katz v. East-Ville Realty Co., (249 AD2d 243, 243), a [p]laintiffs attempt to foreclose upon a mortgage in which he had no legal or equitable ...
See Full GuideWhy Foreclosed Homeowners Receive 1099s for Cancelled Debt First, the basics: if you owe a debt to someone else, and that debt is forgiven, the IRS Code treats that forgiven debt as income to you. Does...
See Full GuideWill I Get Sued for the Loan Balance After Foreclosure? The short answer: not necessarily. Statistically, you are more likely to have the debt forgiven (hence the 1099). In some states the bank has th...
See Full GuideYes, bankruptcy can stop foreclosurebut not without careful planning, and not without consequences. Read on to learn how to make this important decision. Bankruptcy Stops All Legal Proceedings Bankrup...
See Full GuideOptions If the house is not yet in foreclosure, the client should immediately contact the lender and try to work something out. The client should pay as much as possible and save any money returned by...
See Full GuideForeclosure Process Illinois is a judicial foreclosure state. The foreclosure process is governed by the Illinois Mortgage Foreclosure Law (IMFL),735 ILCS 5/151101et. seq. Mortgages for this purpose ...
See Full GuideWHAT ARE SOME OF THE COMMON FORECLOSURE DEFENSES STRATEGIES? (1) Seek a Loan Modification / Loan restructuring / Loan Workout (of a commercial or residential loan) (2) Pursue a short-sale of the pro...
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