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May, 2014 Archives

New rules for foreclosures in Illinois

New Illinois foreclosure rules which went into effect last year, were put in place to assist and protect those who face foreclosure on their residential property. Tens of thousands of homeowners in Illinois are still facing the possibility of losing their homes to foreclosure a full six years after the housing market crashed. … [Read more...]

Avoiding Zombie Title Pitfalls

According to a 2009 -RealtyTrac study, foreclosure filings increased by more than 81 percent in 2008. This means that just over 860,000 families lost their homes when they were unable to keep up their mortgage payments. In Illinois, 32,000 homes were trapped in a situation where ownership of the home (and bills associated with said ownership) was unclear. … [Read more...]

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