A deed in lieu of foreclosure is the process where the homeowner returns the property to the bank in exchange for avoiding a foreclosure judgment on their credit. Similar to the application process in a short sale, a deed in lieu of foreclosure allows a homeowner to dispose of the property and walk away without judgment on their credit. JP Legal LLC’s network of professionals are extremely skilled in negotiating deeds in lieu of foreclosures with the banks.
Alternatives to Foreclosure Chicago IL
Loan Modification Chicago IL
A loan modification entails working with the bank to enable a homeowner, who has encountered difficulties in keeping up with their payments, to restructure their loan under a different payment arrangement. This procedure might extend over a span of 6 months or even more, involving a comprehensive application process. Our real estate attorney in Chicago IL goal is to secure loan modifications for homeowners who are eager to safeguard their homes from the specter of foreclosure.
Short Sale Attorney Chicago IL
A short sale involves selling a property for an amount that is less than the outstanding debt. This serves as a viable choice for homeowners facing foreclosure, seeking to divest the property and prevent a negative impact on their credit due to a foreclosure ruling. The process of executing a short sale is intricate and involves significant paperwork, often requiring the participation of real estate agents. Our real estate attorney in Chicago is highly skilled in negotiating and successfully orchestrating short sales on behalf of our clients.
Deeds in Lieu of Foreclosure Chicago IL
Mortgage Counseling Chicago IL
Mortgage counseling in Chicago IL offers expert guidance to homeowners, providing clear explanations and analyses of complex mortgage terms. At JP Legal LLC, we decode intricate bank-produced documents, empowering homeowners to make informed choices about mortgages. Whether understanding new terms, exploring loan modifications, or navigating mortgage processes, our mortgage counseling services ensure clarity and confident decision-making.