Legal Question in Real Estate Law in Illinois
We are in the home modification program and are awaiting and answer. Bank of america set a forclosure date of November, but we have not received an official letter.The women at the modifcation program said we just have to wait and see. But my husband and I dont want to wait till the last moment. I know it takes 30-60 days for an answer, but we dont know what to do, try to put our house for a short sale, or wait. Help.
2 Answers from Attorneys
More information is needed to answer properly. You said that the foreclosure date is set for November, but you need to be more specific. Specifically, we need to know if you mean the foreclosure sale and whether you properly responded to the complaint by filing an answer and appearance. A short sale can take longer than a modification, especially with the current state of the real estate market. If you need more specific advice, I recommend seeing if your local courthouse has a pro se help desk for foreclosure assistance.
Contact an attorney who specializes in foreclosures if there was an actual foreclosure and/or lawsuit filed against you on the loan(s). Also, you can hire an attorney who specializes in short sales in IL. Typically, they do not require any money for fees from the seller and the bank pays their fees. Best of luck. Attorney Alex
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
