Legal Question in Real Estate Law in Illinois

I have a condo that I have lived in for one year past 5 years in Chicago. Beyond my year there, I have been running a very substantial negative cash flow. I was attempting to sell

in 2007 with no luck, now the real estate market appears to have continued with a value less than

my current refinance mortgage.

I filed for BK Ch. 7 a year ago,

very limited assets, can the lender pursue a deficiency judgement

on me, and chances of them winning?


Asked on 10/13/11, 8:29 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Can they? Yes. Will they? It is my understanding that deficiency judgments are very unusual for foreclosures in Cook County. Did you include the debt in your bankruptcy? Did you reaffirm the debt?

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Answered on 10/25/11, 1:37 pm


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