Thousands of Illinois residents are struggling to make their mortgage payment, and finding it harder and harder to stay afloat. That means more and more people are facing the prospect of foreclosure. While that is certainly not a good place to find yourself, working with a Streamwood real estate attorney can help you face that situation with confidence. How can a real estate attorney help with foreclosure?
Finding Your Defense
Too often, homeowners feel like they are at the mercy of their lender when it comes to foreclosure. However, that’s not necessarily the case. In fact, many homeowners find that they have a defense against foreclosure, which allows them to stop the process and stay in their home. What possible defenses might you use? Actually, there are quite a few possible options depending on your situation, and a Streamwood real estate attorney can analyze your case and advise if any apply to you. Some of the more common include:
- Failure to follow proper foreclosure procedures on the part of the lender/loan servicer
- No clear ownership of the mortgage loan
- Serious errors with your account on the part of the loan servicer/lender
Military Service Protects You
Are you an active-duty military service member? If so, you have access to protection under the law unavailable to those not in the military. For instance, the Servicemember Civil Relief Act spells out your rights in this area, including the fact that with mortgages taken out before going into active duty, mortgage servicers are not allowed to foreclose on you without either a court order allowing them to do so, or a signed waiver from you allowing them to do so.
While some lenders are on the up and up, that’s not the case for all of them. Some practice underhanded tactics, such as dual tracking. Essentially, this is the process of both working on a loan modification while pushing the foreclosure process forward at the same time. A Streamwood real estate attorney can help determine if this is the case, and put a stop to it, if it is.
Whatever the situation, you do not have to face the prospect of foreclosure alone. Contact Jackson Abdalla Law Group to learn more about your options and to schedule a free consultation with an experienced real estate attorney to discuss your case.