27475 Ferry Road
Warrenville, Illinois 60555
(630) 717-2783
CONTACT US TODAY

Blog

All You Need to Know about a Real Estate Lien

When it comes to purchasing a home, the difficult real estate terminologies can often confuse many people who are looking to buy a house, making the process more complicated and complex. Though a person may hire a realtor and a real estate lawyer to protect their interests, it is important that they familiarize themselves with the basics. One of the terms which mostly puzzles the buyers is ‘lien’. What is Lien? A Lien is a claim that an individual or entity has on a residential property with respect to the unpaid bills of the homeowner. Whe...

Foreclosure Defense: An Overview

Most people do not possess enough money to buy a house with cash, thus they opt for a mortgage to purchase a house by making monthly payments over several years. However, over time, there can be a change in circumstances; excessive debt and financial difficulties may render them unable to make their monthly mortgage payments. In such cases, the lending financial institution may decide to initiate foreclosure to recover the balance. Facts available on Federal Deposit Insurance Corporation’s website shows that 250,000 new families enter into fo...

Should I Hire A Real Estate Lawyer for a Short Sale?

A short sale is an arrangement where the proceeds obtained from selling the house are lesser than the amount owed to the mortgage lender. Short sales usually take place when a homeowner is delinquent on their mortgage payments and wants to avoid foreclosure against them. Sale proceeds, which are usually lower than the amount owed, go to the mortgage company and in return, the lender lifts their notice of deficiency, releasing homebuyer from any obligation. If you find yourself in a difficult financial situation and are looking to initiate a sho...

Do You Need a Lawyer to Construct a Foreclosure Defense?

Foreclosure is a common occurrence in the United States. A report from Attom Data Solutions revealed 362,275 foreclosure filings of U.S. properties in the first half of 2018. In an environment where homebuyers buy a house on mortgage at a much higher rate than its selling value, foreclosure can severely damage their financial position. Moreover, it can also negatively affect their credit ratings. But, what actually is a foreclosure? And do you need a lawyer to construct a defense? Let’s find out. What Is a Foreclosure? Foreclosure is a proces...

Why is Short Sale a better option than foreclosure?

In the United States, 65% of homeowners own a mortgage (debt taken to purchase a real estate property) on their house. When a homeowner is under financial stress and unable to pay the mortgage payment of their house, they are presented with mainly two options: short sale and foreclosure. It is imperative to understand the main differences between both of these processes to make a wise decision. A short sale is a procedure to sell your home when an owner owes a mortgage of a higher amount than the market value of the house. If banks agree to acc...

Contact Our Office