What is Foreclosure?

Foreclosure is the legal procedure that allows the mortgage provider to sell your property at public auction to collect payment in full on your loan. Your mortgage papers detail the lender's rights. When you do not make your house payments, the lengthy court process called foreclosure begins. When you miss three payments in a row, financial institutions start the process to foreclose on your house. Foreclosure ends or extinguishes your rights to the house. The court directs the property sold at public auction and the money from the sale is applied to the mortgage debt.

We can help you! If you can't make your house payments, call us! We can help stop the foreclosure process!

How Can Foreclosure Happen to YOU?

• Let's say you missed just one mortgage payment. Here's what can happen next:
  1. The lender requires payment of the missed payment plus late fees and additional interest. You cannot pay part this week and part the next week: This amount must be paid in full.
  2. You try to pay the teller at your bank but you are told you need to see a bank official.
  3. You talk to a bank representative who tells you that a Mortgage Account Executive must authorize acceptance of funds in lieu of a missed payment.
  4. You are told that the Mortgage Account Executive is not located at your local bank, on vacation, or out of town.
  5. You give up, go home, and the month ends before you know it.

• The second month you now owe two mortgage payments, plus additional interest and late fees, and you need a Mortgage Account Executive to approve acceptance of the amount, which must be paid in full.
  1. Meanwhile, your child falls and breaks an arm and you rush from work to take him to the hospital.
  2. The hospital won't accept your health insurance card so you write a check for down payment towards the bill.
  3. You spend the next month pampering your child and arguing with your health insurance company, and the next thirty days goes by in a dizzying flurry of care-taking aggravated by phone calls to your insurance company.

• The third month comes along and you now owe three mortgage payments, accelerated interest, and late fees. Plus you still need the Mortgage Account Executive to approve acceptance of the amount but he's "unavailable" and hasn't returned your call. You suspect that he's on vacation.

What Happens Next?

Call us to help you stop this process as quickly as possible!

• Otherwise, this is what will happen next:
  1. You must hire and pay for your own attorney.
  2. You must take time off from work to appear in court at either the Lake County Courthouse in Waukegan or in Federal Court in downtown Chicago.
  3. You must pay the fees for the mortgage company's attorney.
  4. You must pay all the costs of foreclosure incurred by the mortgage company.
  5. You must pay all the court costs incurred.
  6. Passing time increases all fees.

Meanwhile, your injured child needs additional medical care ... your insurance company won't pay the previous bills ... the hospital has begun demanding payment ... your utility bills have increased ... your phone bill is huge ... and you're beginning to blame the Mortgage Account Executive and hope that the airline loses his luggage on his return trip ... and you don't know who to call to talk to ...

Cold and impersonal financial institutions do not take into consideration the humiliation and frustration a home owner can feel when they cannot stop the foreclosure process. Owning your own home instills a sense of pride even when you can't make ends meet. Don't let unfortunate circumstances destroy everything you've worked for! We can help!

... SO ... call us toll-free now at 866-916-SELL! (866-916-7355) Your house may possibly be your biggest investment in your lifetime - don't let the foreclosure process weigh you down! Take control by calling us now!