Foreclosure Filings Increase in Cook County Illinois

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Cook County Foreclosure Filings are going Up: the Jan-June 6 month average was 262 weekly Foreclosure filings. In the last two weeks, they are up about 30%, with 333 & 324 weekly Foreclosures. What can a homeowner do? Many stopped paying their mortgages 2 years ago, thinking a Covid Forbearance of some sort would be offered.

Now, they are almost two years behind. What is worse is that the value of their homes is usually up, but if they lose the home in foreclosure, they will have no generational wealth, and will be renting. They have eaten up a lot of their equity by letting the mortgage go 30 months behind.

And what about the real estate taxes? Either the mortgage company paid them, and wants to be reimbursed, or they are now 2 years past due.

Chapter 13 can cure mortgage arrears, and force the mortgage company to stop foreclosure, and accept ongoing payments. Don’t wait until foreclosure, or worse, a sheriff sale, if you are behind in your mortgage and are able to start making regular payments, and pay the past due over as long as 60 months. Chapter 13 saves houses! But the longer you wait, the harder it is.

Dial 1-800-CALL-PFG for a free phone mini-consultation, or make an appointment online 24/7 at www.infotapes.com.  Bankruptcy laws are in place to help you.  Who knows bankruptcy like Geraci Law?  Geraci Law has 35,000 5-star reviews since November 2016!

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