When in need of a foreclosure lawyer in Chicago, you should consider the following factors: the attorney’s education and experience, biographical information, links to their firm’s website, and other relevant information. You can even fill out a simple contact form if you wish to get in touch with a specific foreclosure lawyer. In addition, you can also get an idea of the fee structure for retaining a Chicago foreclosure lawyer.
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Loan modification
The legal profession is awash with lawsuits alleging shoddy work. Some attorneys charge upfront fees for loan modifications but do little to help borrowers save their homes. Other attorneys are simply trying to recoup their fees. In some cases, attorneys don’t even deliver their promised services. In one case, Henry Vega, a Skokie resident, paid $2,495 to loan modification attorney David Mierswa without getting a loan modification.
Foreclosure and loan modifications are two different situations, but both can have devastating effects on your credit. Depending on the circumstances, a modification can lower your payments to a manageable level. If you have a recent change in your employment or a significant reduction in your income, a loan modification may be an option. In either case, though, you’ll need to show that your monthly payments have been on track for a long time.
Chapter 13 bankruptcy
Filing for bankruptcy is a legal process in which you propose a repayment plan to the court. Under a Chapter 13 plan, you make payments to a trustee who distributes them to your creditors. The length of the repayment plan is determined by IRS guidelines, but your attorney may customize it to fit your specific needs. Payments under a Chapter 13 plan include all monies owed to creditors, trustee fees, and court costs.
When a debtor is facing foreclosure, filing for Chapter 13 is an option. Filing for this type of bankruptcy will stop the foreclosure process and keep your property. You can make regular payments to catch up on the mortgage, which can buy time to get a mortgage modification. In some cases, the bankruptcy attorney will also stop the repossession of a car or stop a foreclosure sale on a home. In many cases, a Chapter 13 plan can allow you to keep all of your assets, even if you cannot pay your mortgage.
Automatic stay
An automatic stay can put a stop to a foreclosure process. A bankruptcy filing will halt moneylenders in their tracks. The bankruptcy stay can be extended if the debtor files a motion proving that his latest bankruptcy case was filed in good faith. Foreclosure lawyers in Chicago can help you with this process. These attorneys offer free consultations and payment plans to meet your needs. Read on to learn more about the benefits of bankruptcy.
If the automatic stay is lifted by a court, the creditor may still try to collect the debt. However, a bankruptcy attorney can advise you on what to do, which will save you from a lot of stress. In many cases, bankruptcy lawyers in Chicago can make the process less stressful by assisting you with the filing. This law firm’s attorney Kevin O’Flaherty is a graduate of the University of Iowa and Chicago-Kent College of Law. He has extensive experience in bankruptcy, estate planning, real estate, and comprehensive business representation.
Document preparation
Foreclosure attorneys in Chicago are highly experienced in preparing documents. In most cases, it is difficult for the average person to complete document preparation. The process of filing a foreclosure lawsuit begins with a Complaint, which outlines your rights. The answer, on the other hand, goes line by line through your Complaint, admitting or denying the allegations made. The next step in the foreclosure process is to file a motion to dismiss, which states that the Complaint is faulty.
Once the lender has filed a foreclosure case, it must first serve a summons. This document informs a homeowner of the foreclosure proceeding and the need to file an answer. This document is served to the borrowers or occupants of the home, all lienholders of the property, and any other unknown owners or non-record claimants. A good foreclosure lawyer will read and interpret the summons for you and tell you exactly how much money the bank is attempting to recoup from you.
100% money-back guarantee
If your case is not successful, you can get a 100% money-back guarantee from the foreclosure lawyer you hired. The lawyer must have successfully resolved your case in a court of law. This means that if your case was unsuccessful, you will be refunded all of your attorney’s fees. A lawyer with a 100% money-back guarantee is the best option for you, so you can try them out with no risk.
Foreclosure lawyers in Chicago can help homeowners avoid losing their homes by getting their home mortgages modified. These lawyers know the guidelines of loan modifications and are experienced with the Home Affordable Modification Program. They can help you stop the foreclosure sale date regardless of the amount that is past due. The lawyers at the Law Offices of Jeffrey Avny offer a free consultation to assess whether they can help you. If you decide to work with these lawyers, you can rest assured that they are guaranteed to work for you.
