Legal Question in Real Estate Law in Illinois

I would suggest working with a lawyer. There are more players involved than you know. We've heard of situations where an owner like you is working on a loan modification and at the same time some foreclosure attorneys hired by the bank are foreclosing and don't know about what you're doing. You may need some help keeping things coordinated since the banks don't always have things in sync. Plus, when you hire an attorney you're also buying some errors and omissions insurance in case things blow up.

Technically, you can do a loan modification on your own. Then again, technically you can write your own will, handle your own real estate closings, and file your own lawsuits. However, your representation of yourself may not be as competent or thorough as an attorney's representation of you. There is a reason people hire attorneys to do these things.

Loan modifications are paper-intensive, time-sensitive, and deadline-driven. The same bank is often handling your file in different departments with different goals. There are many types of modifications available, and a working knowledge of the subject is helpful. Additionally, should a modification fail, an experienced attorney may be able to assist you in reaching another resolution.

If you are serious about keeping your house, why not give it your best shot? If you need assistance, please do not hesitate to call me.

This is a complicated area and the stakes are high-your credit and a possible judgment against you. Hire an Experience Real Estate lawyer to assist you. If you live in the Chicago Area, I suggest Stephen who answered you already. I have been reading his responses in Law Guru for years and the advice that he has given has always been right on point.