The facts about your foreclosure
Foreclosure Help
The first thing you need to understand about foreclosure is that you are not alone. In the first quarter of 2007, according to www.ilFLS.com, the Illinois Foreclosures Listing Service, there were over 10,000 new foreclosures in the Chicago land Area.

The next thing you need to understand is that you have options, but you have to take the time to learn the facts about foreclosure and truth about which option is right for you and your unique situation.
TESTIMONIALS
  • Sell your Property

    Often times the best option when facing foreclosure is to sell your home, downsize, or rent while you recover financially. When dealing with a foreclosure, time is of the essence, so you cannot wait the 180 days + on the real estate market for your property to close, as you risk losing everything.

    Homeowners Advocacy Group can give you a cash offer and typically close within one week depending on the situation. You can read more or contact us now to get an Advocate working for you today.

  • Refinance and Creative Financing

    Regardless of your credit there is a way to stay in your home, but you need lenders experienced with foreclosure or you may end up wasting precious time. Our network of lenders is experienced working with foreclosures and all its complexities. You can read more or contact us now to get an Advocate working for you today.
  • Short Sale – Solutions for homeowners with no equity

    If you have no equity in your home, are unable to sell your home without being ‘upside down’ and need a way to get out, the ‘short sale’ may be your answer. A short sale is where a lender agrees to accept a payoff for less than what is owned on the loan balance in order to satisfy your debt.

    Our Short Sales team is professionals with a combined 15+ years of proven success in negotiating short sales with lenders on behalf of Chicago Area homeowners. They will work with your lender until your foreclosure case is resolved creating a win-win situation for the homeowner and the lender.

    To get the process started or to find out if a ‘short sale’ is right for you contact us now.
  • Workout with Lender

    The most important thing you can do when facing foreclosure is communicate with your lender. They may offer you options to stop the foreclosure process as they want a resolution, and would like to keep you in your home.
    • Reinstatement – pay back the past due amount on your loan and the lender will ‘reinstate’ your mortgage.
    • Repayment Program – pay back the past due amount in monthly installments in addition to your regular mortgage payment over an agreed upon term (anywhere from 6 months to 1yr) until the past due amount is paid off.
    • Loan Modification – the lender agrees to add the past due mortgage payments to your principal mortgage amount, giving you a new loan balance and the full remaining loan term to pay off your past due payments.
    • Short Sale - when you can no longer make payments on your property, have no equity, and cannot sell the property. The lender agrees to sell the property to an investor for less than the loan balance.
For more information on how to ‘Avoid’ foreclosure, download the U.S. Department of Housing and Urban Development’s free pamphlet.
Download
Pamphlet
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