What is a Default Foreclosure

A default foreclosure occurs when the homeowner has been served with a foreclosure complaint, but does not file an appearance or attend court in the case. After a default judgment is entered, the bank can move forward with the foreclosure process, which may include selling the home at auction and eventually evicting the homeowner.

Default foreclosures happen more often than they should. One way to prevent a default foreclosure is for the borrower to go to the courthouse, file an appearance and attend the first court date listed in the foreclosure documents. Generally, Illinois law allows borrowers 30 days from the service of the complaint to file their appearance.

If you have any questions about the foreclosure process, please feel free to call the attorneys at Perl & Goodsnyder at 312/243-4500 or visit our website at www.perlandgoodsnyder.com/. We have over 50 years of combined litigation experience and can assist you with your foreclosure litigation. 

Options for Chicago Homeowners in Foreclosure

Our foreclosure clients usually come to us confused and nervous after being overwhelmed in what seems like endless paper. They often feel like they don’t have any options and that the bank is going to come and immediately take back their house. This isn’t necessarily the case. Borrowers almost always have several options and banks are often willing to work with homeowners, especially when the borrower has counsel. Some of the options in foreclosure may include refinancing, a loan modification, a deed in lieu of foreclosure, a short sale, fighting the foreclosure in court or even a bankruptcy. Figuring out the best option depends on your individual circumstances.

Please feel free to give the attorneys at Perl & Goodsnyder a call regarding your foreclosure case. We are general practice attorneys with years of litigation and real estate experience. Please feel free to contact our office via telephone, 312/243-4500, or visit our website at www.perlandgoodsnyder.com/

Chicago Homeowners in Foreclosure

Homeowners in foreclosure find themselves in a frightening and unfamiliar situation. They’ve fallen behind in mortgage payments, usually due to a business failing or job loss, unexpected expenses or another unfortunate circumstance. Missing mortgage payments is only one part of more complex financial distress.

What makes the situation worse are the complexities of the legal system. The typical homeowner has never been involved in litigation, much less the foreclosure process. The foreclosure process is highly procedural and confusing to those not trained in the law. Complicating matters further is the fact that some of the defenses that may exist to a foreclosure can be found in federal law, while the litigation almost always takes place in state court.

The attorneys at Perl & Goodsnyder practice foreclosure litigation and are able to assist homeowners navigate the process. For more information, please call our Chicago office at 312/243-4500 or visit our website at perlandgoodsnyder.com.