Legal Question in Real Estate Law in Illinois

? If your question is can you prevent a foreclosure by refinancing (or loan modification), the answer is it depends on whether you will be paying the lender off in full or not or if the lender is agreeable to take less or not. If so, great and you could be a lucky one. If not, not unless the lender agrees to something else like a short sale, in which case you are selling, not refinancing. This also assumes this is Illinois property, the lender has not filed for foreclosure OR has filed and it is still less than 90 days after filing (a grace period). HOWEVER you had best get an attorney involved, because keeping the current lender from filing for foreclosure, or from taking a judgment in foreclosure and wiping you out, can be VERY tricky. Among other things, the refinancing (or loan modification) department may NOT be talking to the foreclosure department and none of them may be talking to the foreclosure attorneys, and things can really get complicated.

I am not sure what you are asking. Can you please repost with more details.

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