Why Fight Foreclosure in Chicago?

Reasons to Fight a Home Foreclosure in Cook County, IL

If you have received a notice of foreclosure from your home lender, it probably came as no surprise. In all likelihood, you have already been struggling to keep up with your mortgage payments for months or even longer, and you may feel resigned to the fact that you are going to lose your home. The fact is, however, that you do not have to let this happen to you. While the bank has a legal right to carry out a foreclosure after you have defaulted on your loan payments, you also have a right to contest the foreclosure, and by doing so you can nearly always obtain a far better outcome than you would if you did nothing.

As soon as you hire a Chicago foreclosure defense lawyer from Whiteman Borden, LLC to represent you against the bank, we can conduct an exhaustive investigation of the loan documents and other aspects of the situation to determine whether you have been the victim of any type of fraud or misconduct on the part of the lender. While most of the negative attention in a foreclosure normally focuses on the delinquent borrower, in truth the bank is frequently at fault and there are many cases on record of foreclosures which are simply fraudulent.

The courts generally favor the lender in cases of foreclosure, but by forcing the lender to prove every element of the case we are often able to demonstrate weaknesses that can be exploited to your advantage. For example, even a simple error in explaining the interest rate could constitute a violation of the federal Truth in Lending Act. Violations of state and federal law, lack of proper documentation and even evidence of outright fraud can all be used as grounds to file a motion to dismiss a foreclosure. Even if you do not succeed in stopping the foreclosure, by fighting it you can often at least delay the process by several months, thereby giving your family much needed time to prepare to move and to find a new home.

Determining If You Are Ready to Move On

Taking the case to court is not the only strategy for fighting a foreclosure. In some cases, it is possible to negotiate with the lender to secure a loan modification, which provides the borrower with a lower monthly payment by reducing the interest rate or the loan balance or which extends the term of the loan. In other cases, the best approach is to seek to negotiate a deed in lieu of foreclosure or a short sale which allows you to get out of a property that you cannot afford with a minimum of legal liability and damage to your personal finances. Looking for an attorney for foreclosure in Chicago? Whether your goal is to keep the property or if you are ready to move on, we want to help you. Contact a Cook County foreclosure defense attorney today for help with your foreclosure in Illinois!