Legal Question in Real Estate Law in Illinois

Why did wait until your home was sold until you sought legal advice? Why did you work on the loan modification by yourself.?

The fun is just beginning for you Not only did you lose your house but now the bank will have a 5 or 6 figure judgment against you that will last for the next 21 years. Every paycheck you get will be garnished, every time you put a little money in the bank, the mortgage company will get it.

Oh, by the way, the IRS will give you a bill for the difference between the amount owed on house and the amount it was sold for. The IRS is very good at collection when you receive the 1099from the mortgage company they will be at your throat.

Your only option at this point is to file a bankruptcy. I hope you don't exceed the income limits. FREE ADVICE: Don't do this one by yourself.

So you did save a lot of money doing this project by yourself, On the other hand, for about $5000 - $10000 you could have saved your home. Don't say you did not have the money. because I know you did not make any mortgage payments for over 12 months.

We do foreclosure defense and mortgage modifications all the time and are very successful. But we can only help people that want to be helped.

Yes all the mortgage companies use robo-signers. This has been a big non-secret for the last 4 years. You might have been able to use it as a defense., but that's over now.

You only have one shot...that's a motion to deny the confirmation. You have about a 1 in 100 shot there. With no lawyer you do not have any chance at all.

I'm going to pin your question up on the wall of my office as a classic case of how not to do things and what happens when you represent yourself.

Good luck

I agree with Joseph. And I AM a bankruptcy lawyer.

I agree with Joseph and Charles that you do need a lawyer. However, depending on the circumstances and possible facts not posted, you might be able to vacate the judgment based on fraud. However, that is a long shot! Further, even if you do vacate the judgment, you may still ultimately have to make good on the mortgage. Bottomline, see a lawyer, preferably someone who defends foreclosures and does bankruptcy.