Defending Yourself Against Home Foreclosure Actions
Countless people across the country have found themselves unable to keep up with mortgage payments. At the same time, the value of homes has dropped significantly from just a few years ago. This has left people with many questions, and few options. At my office in Joliet, I help Illinois residents understand their options regarding bankruptcy, debt and foreclosure.
Contact me, attorney Doree M. Wojtkowiak, by e-mail or call me at 815-671-4779 or toll free at 888-820-3241 to schedule your free initial consultation.
What Comes Next?
When you come to my office, I will work with you to get a full understanding of your situation. Has the home foreclosure action started? Are you behind on payments? Would you be able to make the mortgage payments going forward, if you had time to catch up with the overdue payments? Do you want to stay in your home? The answers to these questions and more will determine the best course of action for you.
Understanding Your Options
For people with significant equity in their homes and the ability to make regular mortgage payments in the future, Chapter 13 bankruptcy may be the preferred option. Chapter 13 bankruptcy may allow you to prevent foreclosure while catching up with past due payments over a 3 to 5 year span.
If job loss, medical debt, or other factors make it impossible for you to continue making regular mortgage payments, Chapter 13 bankruptcy would simply delay a home foreclosure. We can discuss other options, including attempting a short sale of your home. A short sale is simply selling a home for less than what is owed. In some cases, a short sale can put you in a better position to buy another home later than if you allow the foreclosure to continue. Short sales have a number of drawbacks and real estate agents are often the primary beneficiary. It is important to have the advice of a knowledgeable lawyer to make sure that you are choosing the option that is right for you.
Making the Best Choices for You
Every situation is different - there is no one-size-fits-all bankruptcy option that is right for everyone. I will work with you to keep you informed every step of the way. Lenders and real estate agents are not on your side. I can protect you and help you move forward in a positive way.
Contact My Office Today
If you have questions about home foreclosure, contact me to schedule a free initial consultation. My office is right across the street from Will County Courthouse, near I-80.