Legal Question in Real Estate Law in Illinois

My first house with a second is going to foreclose. I inhertited a second house with my name on title. What can I do to save the second or not pay the money the defeciency


Asked on 6/13/15, 6:19 am

2 Answers from Attorneys

Henry Repay Law Offices of Henry Repay

It may be best that you file for bankruptcy and timing may be everything. The scope of this space does not afford an opportunity to assess the situation and advise you. I recommend you assemble for legal consultation: (1) household income information for January 2015 through the present, including wages and unemployment during that period; (2) all your bills and collection notices (copies neatly assembled, back pages included); (3) last two years� tax returns; (4) a credit report (use www.annualcreditreport.com to obtain free report if not requested in last year); and (5) other information that may apply, such as copies of lawsuits. Call at your earliest convenience to afford the most opportunity in which to be advised about your best course.

I do not recommend filing bankruptcy on your own. There are too many complex issues. I have seen several posts on this site for debtors who filed on their own and are seeking counsel concerning complications. Most of them will have a hard time finding an attorney to get involved to unwind the mess without the attorney charging several times what would originally have been paid.

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Answered on 6/13/15, 9:32 am
J. Norman Stark J. Norman Stark , Attorney, Architect

I agree 100% with Attorney Henry Repay. Contact and retain an Attorney ASAP! Good luck.

Sincerely,

P.S. Attorney Repay:

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J. Norman Stark, Attorney / Architect Emeritus

1109 Carnegie Avenue Cleveland , Ohio 44115

(216) 531-5310 x7100 Email: [email protected]

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Answered on 6/13/15, 10:47 am


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