Helping Chicago Homeowners Avoid Foreclosure
For many people facing home foreclosure, a short sale is an attractive option to eliminate debt while avoiding home foreclosure. In a short sale, the homeowner sells the property to a third party for less than the amount of the outstanding loan. Mortgage lenders do not always agree to consider the debt paid in full.
At Ledford & Wu, we help people throughout Chicago and the surrounding suburbs with short sale negotiations and other foreclosure avoidance options. While a short sale cannot help you keep your property, it can relieve you of a lot of debt and avoid the consequences of home foreclosure.
Are you struggling to keep your home? Contact a mortgage assistance lawyer by e-mail or call 888-542-1900 for a free consultation at any of our ten office locations. Our Chicago short sale negotiation attorneys are here to protect your rights.
Cook County Mortgage Loan Adjustment Attorneys
We offer our clients a number of debt relief options in addition to short sale negotiation, including Chapter 13 bankruptcy.
If you choose to negotiate a short sale, you must convince your mortgage lender that accepting less than the value of the home is in their best interests. This is only possible in relatively few circumstances, and in any case, will require a skilled attorney to act on your behalf.
There are important things to consider before entering into a short sale agreement. For instance, the IRS may consider the difference between the amount you sell your home for and its actual value as income, making you responsible for the taxes. An experienced foreclosure defense attorney can help you explore all of the possible risks and liabilities involved in a short sale.
Contact Us
Contact our law offices online or call 888-542-1900 to speak with an experienced Illinois mortgage defense lawyer. We are ready to help.
