| Read Time: 9 minutes | Foreclosure

Illinois Mortgage Foreclosure Law

Facing foreclosure? Start by reading this guide to Illinois foreclosure law, then contact Vantage Group Legal for immediate help. Anticipating or dealing with the process of foreclosure in Illinois can be an angst-ridden time for anyone. Tendencies can be to ignore the possibility of foreclosure, try to handle the foreclosure case on your own, or be angry about the...

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| Read Time: 5 minutes | Foreclosure

How to Respond to a Foreclosure Summons (Step by Step)

When determining how to respond to a foreclosure summons, your first step should be to avoid panicking. Do not start packing your bags or planning to move in with relatives just yet. The foreclosure process can take several months, and you may have options to avoid foreclosure. That being said, do not ignore the foreclosure summons. We defend the...

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| Read Time: 4 minutes | Foreclosure

Foreclosure Help in Chicago (and Throughout the State of Illinois)

Facing foreclosure? This article lists free resources for you to explore. Still have questions? Vantage Group Legal offers affordable foreclosure help in Chicago, Illinois. Home foreclosure is the process by which you lose legal ownership of your property. Receiving a foreclosure notice can be overwhelming. This process occurs several months after months of missed mortgage payments.  Many Chicago area...

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| Read Time: 3 minutes | Foreclosure

When Is it Too Late to Stop Foreclosure?

Homeowners have many possible options before foreclosure happens. The only time it is finally too late is when the house has been sold at auction after a court approves the sale.  General Timeline of Foreclosure Proceedings Lenders must make a decent amount of effort to attempt to help the borrower avoid foreclosure. Here is a brief timeline of what...

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| Read Time: 3 minutes | Foreclosure

The National COVID Foreclosure Moratorium Has Ended

On June 25, 2021, the Biden administration and the Federal Housing Finance Agency (FHFA) announced that the national foreclosure moratorium ends on July 31, 2021. However, many borrowers are still experiencing hardships related to COVID and remain seriously delinquent. The mortgage industry is anticipating a high volume of foreclosures and an overwhelming amount of assistance requests. The Biden administration...

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| Read Time: 3 minutes | Foreclosure

Can a Bank Foreclose if Payments Are Current?

Foreclosure most commonly refers to a lender taking possession of a property for non-payment of a mortgage loan. However, the status of mortgage payments is just one cause of foreclosures. Other causes include the owner’s unpaid debt to other parties, a homeowner not meeting other aspects of the loan agreement, and payments misdirected to the wrong lender.  Therefore even...

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| Read Time: 4 minutes | COVID-19

COVID-19 Forbearance

Legal and real estate professionals expect foreclosures to be on the rise in 2021. Fortunately, the federal government is aware many people are struggling due to COVID-19. Forbearance avenues, therefore, exists to assist homeowners.  If you are a homeowner genuinely unable to meet your mortgage obligations, you should explore all avenues of mortgage forbearance. COVID-19 or other life challenges...

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| Read Time: 7 minutes | Foreclosure

How To Stop Foreclosure In Illinois

Facing foreclosure is stressful, legally complex, and a danger to your credit. If you have missed mortgage payments or your lender has filed a Notice of Default (NOD), you might feel like there is nothing you can do to prevent the loss of your home. But you are not without hope. In Illinois, there are legal avenues an experienced...

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| Read Time: 6 minutes | Foreclosure

How To Get Help With Foreclosure

If you are fearing foreclosure, an experienced Chicago foreclosure defense attorney can analyze whether you are at risk. If you are, they can help prevent foreclosure and protect your credit. Do not let the fear of foreclosure paralyze you. Be proactive by understanding your rights and using available courses of action. Let’s answer some questions you may have about...

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| Read Time: 4 minutes | Foreclosure

Can a Bank Accept Payment During Foreclosure?

If you are making payments during foreclosure, it is important to understand whether the lender can accept those payments. In addition, you should evaluate your reasons for making payments. Depending on why you are making the payments during foreclosure, there are likely other options to meet your goals. In Foreclosure, Will the Lender Still Accept My Payments? The short...

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