There are quite a few options for homeowners who are behind on mortgage payments. Unfortunately, misinformation and unethical business practices mean that homeowners are often uncertain as to what they can actually do to keep their home or investment properties.
At Ledford, Wu & Borges, LLC, we help clients with a wide range of mortgage defense and mortgage assistance issues. As lawyers, we are able to use legal means of stopping foreclosure that other "debt relief agencies" cannot. We are prepared to help you get your debt problems under control, while keeping your home.
We Will Help You Determine The Best Course For Your Situation
We know you are in a tough position. Not all of the below options will be right for you. But if you work with us, you will have the chance to:
- Learn about your options. For some people, bankruptcy is the best way to stop home foreclosure. For many, however, other options are preferable. Many law firms will try to push you into bankruptcy, but our firm will help you explore all of your mortgage assistance options. There is more than one way to save your home.
- Explore loan modification. We can assist in seeking loan modifications that can benefit you in the long run. We will help you avoid home foreclosure through loan modification and other mortgage assistance options.
- Fight the foreclosure process, when and where applicable. We help clients fight foreclosure and help them save their homes, exhausting all possible legal methods.
- Understand forbearance agreements. Another option is a forbearance agreement. This is when a lender agrees to delay payments for a short period of time, giving the homeowner time to recover financially, then allows for a short-term repayment plan of the past due mortgage payments.
- Restructure your mortgage. Many people choose to fight foreclosure on their own but quickly find themselves out of options while negotiating with savvy loan managers and debt collectors. In offering mortgage assistance, our Chicago mortgage assistance attorneys can give you an experienced legal advocate who knows the law and is equipped to negotiate mortgage restructuring on your behalf.
- Negotiate a short sale. A short sale is when the homeowner sells the property to a third party for less than the amount of the outstanding loan. At the same time, the lender agrees to this as debt paid in full.
- Agree to a deed in lieu of foreclosure. This is when you deed your property back to the mortgage lender and avoid having a foreclosure on your record.
- Protect yourself. Do not let anyone take advantage of your situation by luring you in with false promises. Protect yourself and obtain an experienced Chicago mortgage assistance attorney instead.
- Know the truth about HAMP. We can answer any questions you may have about foreclosure defense, the Home Affordable Modification Program (HAMP) and other government programs. The sad reality for many people facing foreclosure in Chicago is that government programs and non-attorney debt-relief advocates have only made the problem worse. Having an experienced foreclosure assistance attorney protecting your rights can make all the difference between keeping and losing your home.
We also advise that you be very wary of out of state companies who promise assistance. These companies can make endless promises, but who knows who you are actually dealing with. Wouldn't you be more comfortable meeting with an actual local attorney, being able to look them in the eye and get your questions answered directly when it comes to dealing with issues regarding your home? We certainly believe so.
We Are Ready To Help
Contact our law offices online or call 312-574-3327 to speak with an experienced Illinois mortgage defense lawyer. We are ready to help.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.