Foreclosure

Illinois Foreclosure Defense Attorneys

Serving DuPage, Cook, Kane and Will Counties

Are you facing foreclosure? Well, as difficult as your financial situation may be, you are not alone. At Beck & Houlihan, P.C. in Wheaton, Illinois, we can help you explore legal strategies to avoid or postpone a foreclosure proceeding against your home. Contact us now to learn more.

Understanding Your Rights in Foreclosure

People have misconceptions about foreclosure and how it works. For instance, some people believe that once they are served with foreclosure papers, they will get thrown out of their house the next day. This is not true, and our experienced foreclosure defense attorneys can help you.

At Beck & Houlihan, P.C. we educate our clients about all aspects of foreclosure, including:

  • Rights
  • Reinstatement (735 ILCS 5/15-1602)
  • Redemption (735 ILCS 5/15-1603)
  • Court Procedure
  • Alternatives
  • Short Sale
  • Deed in Lieu of Foreclosure (735 ILCS 5/15-1401)
  • Bankruptcy
  • Loan Modification
  • HAMP (Home Affordable Modification Program)

If you are behind on your mortgage payments and have concerns about the foreclosure process, contact Beck & Houlihan, P.C. located in Wheaton, Illinois, to help you understand your legal rights. We can provide you with work-out options, bankruptcy options, and various other options to help you save your home. Call (630) 933-9220 or email us to schedule an initial consultation.

How Filing for Chapter 7 Bankruptcy Can Prevent Foreclosure

Once you file a Chapter 7 bankruptcy petition, an “automatic stay” or court order, issues the immediate stop to creditors from further collection actions against your home and other assets. This includes a stop to foreclosure proceedings until the automatic stay is lifted. This process usually buys you additional time to negotiate with your lender or find a new place to live.

Saving Your Home from Foreclosure with Chapter 13 Bankruptcy

A successful Chapter 13 bankruptcy plan allows you to keep your home, so long as you maintain your current mortgage payment and make your plan payments. You must have enough steady income to continue making payments on your mortgage and past due mortgage payments. Usually you have between 3 to 5 years to repay your debt in a Chapter 13.

Speak to Our Foreclosure Defense Attorneys

Contact Beck & Houlihan, P.C. to learn more about your foreclosure rights and how we can help you save your home. Call (630) 933-9220 or email us to make an appointment today.