Many Illinois homeowners are faced with losing their homes and having a foreclosure on their record. Most of these people have a legitimate hard-ship that ranges from being divorced or unemployed to large medical bills.
During this recession, we’ve noticed that bad things can happen to good people through no fault of their own. That is the reason we’re determined to help our clients examine their options in order to find the best solution.
Many of our clients have attempted a loan modification only to learn that the bank has begun foreclosure proceedings and there is a public auction date looming without any notification to the homeowner. We work with your lender to get the auction postponed in order to begin negotiations to prevent foreclosure.
Some homeowners bury their head in the sand and let their house go, simply because they’re too stressed out to realize, there is another way.
Some of our Foreclosure Prevention methods are a little outside the box but that is exactly what it takes to get the attention of the Loss Mitigators at banks and mortgage companies who have thousands of foreclosure files to work on each day. It’s not uncommon for the mitigators we negotiate with to be working on 100 active files at a time.
Conventional methods used to postpone or stop foreclosure:
- Short Sale – Home is sold at today’s value which terminates foreclosure
- Deed in Lieu – Borrower signs over their rights to avoid foreclosure
- Bankruptcy – Lenders must wait for bankruptcy discharge to foreclose
Outside the Box methods used to postpone or stop foreclosure:
- Produce the note – Lender must prove they are the note holder
- Forensic Loan Analysis – Notify Lender of Loan Violations we find
We realize each pre-foreclosure situation is unique. Please contact us for a detailed discussion about which foreclosure prevention method is best for you. We’ll explain our strategy for stopping the foreclosure and present you with options to assist you in making the proper decision for your family.
Certified Short Sale and Foreclosure Specialist to better serve our Clients.
