Homeowners who have experienced difficulty making their mortgage payments often make some common mistakes when faced with the foreclosure process. These mistakes can compound an already tenuous situation and make matters worse. Homeowners throughout Illinois and the Chicago area specifically can benefit from these strategies when navigating the foreclosure process with a Downers Grove foreclosure defense lawyer.
Avoidance Is Tempting But Will Likely Cause the Situation to Worsen
Mortgage lenders have a vested interest in you remaining in your home and are often amenable to working with you if you are upfront and timely with your request. Avoiding the phone calls and letters from your letter may help you to feel like you are buying time, but in reality, contacting them immediately can make the difference between losing your home and finding a solution that allows you to avoid foreclosure. In the Chicago area, there are many solutions available to successfully navigate the foreclosure process, and hiring a Downers Grove foreclosure defense lawyer is one.
Hire An Attorney
If you are having difficulty meeting your mortgage payments, it may seem counter-intuitive to spend money hiring an attorney, but it will be money well spent. A Downers Grove foreclosure defense lawyer can advise you on possible solutions and communicate with your lender to determine a solution that works for both parties. Forbearance agreements, payment schedule modifications, and loan modification are all possibilities that your Downers Grove foreclosure defense lawyer can help you obtain.
Facing a potential foreclosure process head-on is one strategy that will likely bring the best results. Homeowners that are unable to pay their mortgages can reach out to their lenders and often find a solution that will allow them to remain in their house.
Covert & Covert, LLP is a full-service law firm that specializes in Foreclosure Defense and Injury cases. With office locations in Naperville, Warrenville, and Schaumburg, Covert & Covert services the greater Chicago area as well as Cook, DuPage, Kane, and Will Counties.
