Legal Question in Real Estate Law in Illinois

Short sale or foreclosure

We have moved and have tried to sell our townhome in Will County Illinois for eight months. We are now paying only half of the payments and have priced the townhome 30,000 below what we owe. If we sell the house at a loss, how do we protect our pension and small savings from being taken by the mortgage company to help cover the difference in what we owe and what we sell the house for or let it foreclose?


Asked on 7/30/07, 1:54 pm

1 Answer from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Short sale or foreclosure

Have you considered filing bankruptcy? If not, you should. Contact me if you like.

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Answered on 7/30/07, 2:08 pm


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