847.724.0300

Foreclosure

Foreclosure

If homeowners for various reasons miss a couple of mortgage payments, they may find themselves defending legal foreclosure proceeding initiated by their lender.  Once served with foreclosure complaint, THE WORST THING THAT ONE CAN DO IS TO DO NOTHING.  Too many people hope that the problems will disappear on their own and, the next thing they know, the bank owns the house.  You cannot afford to wait as there is limited time to fight foreclosure proceedings once the process begins.  Having an attorney on your side means keeping your house for substantially longer time compared to just losing it.

As of 2016, foreclosures in Illinois at 0.14% of units by area still remain higher than national average at 0.08% by geographical comparison approach.  Homeowners facing foreclosure need an experienced attorney to navigate the unfamiliar territory of the judicial system, whether the client’s objective is to gain additional time or to just walk away from the property and making sure it is done legally with no or little liability.

The homeowner in foreclosure is entitled to remain in the property during entire length of the foreclosure process, and proper legal action may significantly extend such period of time in possession.  DO NOT WAIT!  Be sure to open your mail and understand the contents of documentation delivered to you.  You may be contacted by people offering to help you avoid foreclosure.  Before entering into any transaction with a person offering to help you, make sure that said person is a licensed Illinois attorney.  We encourage you to seek professional legal advice to best protect your interests.

In business since 1999, we have helped numerous homeowners to make the banks prove their case in court, stop the foreclosure process, force the banks to dismiss and/or refile, keep their homes, reinstate their loans or reduce monthly mortgage payments by hundreds of dollars. This is your time to ask your bank some tough questions and not submit to foreclosure on bank’s terms.  Do not make it easy for the bank to foreclose on your property.  Your bank cannot foreclose on your home without hard evidence, and often the bank does not have enough.  This may take the bank many MONTHS OR EVEN YEARS to do.

While each case is unique and results may vary, we ask that you contact our office immediately to discuss your matter and explore options.  We will consider reviews for:

  • fraud,
  • robo-signing,
  • improper assignments,
  • broken chain of title, just to name some elements.

During pendency of your proceeding, in addition to litigating your matter in court, we review loss mitigation criteria:

  • eligibility for principal reduction,
  • interest rate reduction loan terms extensions,
  • payments reduction,
  • balance forgiveness,
  • mortgage negotiations,
  • HELOCs and lien negotiations and removal,
  • settlement or modification,
  • avoidance of personal deficiency,
  • consent foreclosure,
  • deed in lieu of foreclosure;
  • short sale of your property.

While our initial goal is for you to keep your home, we also shall pursue available avenues for you to maintain the best possible credit standing and resolve pending foreclosure without personal financial deficiency or filing for bankruptcy.  We do not offer a single approach for your unique situation.  We discuss all pros and cons of available options and together with clients come up with comprehensive solution to best fit their specific circumstances.

We have created flexible and affordable foreclosure defense plans for our clients in the Greater Chicago Metropolitan area, including State of Illinois counties of Cook, Lake, DuPage, Will, McHenry and Kane.  If you are a resident of above counties and were served with the foreclosure summons, call attorney S. Aaron Tenenbaum at 847-724-0300 to learn about your legal rights.  Evening and weekend appointments available.

Call Tenenbaum Law Group today at 847-724-0300 to schedule a comprehensive consultation.  Attorney S. Aaron Tenenbaum will personally discuss your matter with you.  We encourage consultation with attorney even before considering stopping paying for your mortgage and before being served with the complaint, but if you have been served some time ago or are aware that a foreclosure action has been pending against you and EVEN IF YOUR MANDATED RESPONSE PERIOD HAS EXPIRED, IT IS A STRONG POSSIBILITY THAT WE STILL MAY BE ABLE TO HELP.

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