Legal Question in Real Estate Law in Illinois
Real Estate
My sister hired a contractor to put an addition on her home. She gave him $28,000. 3 days later she found out that she had hodgkins lypmphoma and the guy took off with her money. Another contractor was called and it was determined that the house was in such bad shape it had to be demolished. We demolished the home and built a new one. In the mean time she is 10,000 in debt with unpaid medical bills and her mortgage is almost doubled because she is paying back the 28,000 she borrowed for the original addition. She wants to refinance or restructure her mortgage but her credit score is preventing her from doing so even though the new home is worth much more than she owes. What can she do?
2 Answers from Attorneys
Re: Real Estate
She really has no choice but to sell the home unless a Chapter 13 bankruptcy would help her.
She also should look into finding the original contractor and suing for her money back.
Re: Real Estate
I think that a Chapter 13 bankruptcy would or might be an option for your sister. It depends on the required CMI standards. Contact me if you like.
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