Foreclosure Defense FAQs

Get Answers From Smith Ortiz, P.C.

Foreclosure is one of the most dreaded words for a homeowner. You've put your income on the line to buy a home, and now you may find you can't keep it. Forget trying to get any sympathy from the bank or a lender. More often than not, they employ ruthless tactics that are confusing and intimidating. The first thing you need to do is get help from a Chicago foreclosure defense lawyer. At Smith Ortiz, P.C., we feel it's important that you are armed with the right information so that you have more control over what happens to your home. With over 26 years of combined experience, we not only provide the information you need, but we can guide you toward a solution.

Is it possible to avoid foreclosure?

Yes, it is. With the help of the U.S. Department of Housing and Urban Development and the Making Home Affordable Program (MHA), homeowners are finding it easier than it has previously been to avoid foreclosure. It's possible that you can lower your monthly mortgage payment, reduce the principal you owe, or get help with refinancing. If you learn that foreclosure procedures are on the horizon, you should get legal assistance as soon as possible. The faster action can be taken, the better chance there is of circumventing the financial fallout and hit to your credit.

Will my financial reputation be ruined if I foreclose?

No. It will probably take a few years to rebuild your credit score and pay off taxes on the forgiven debt, but it will not be forever. With the right legal guidance, this period of time can sometimes be shortened and the financial repercussions minimized dramatically. Many people have found that they come out the other side in much better financial health than when they struggled under the burden of a high mortgage they really couldn't afford. It is better to avoid foreclosure by a short sale, deed in lieu of by filing for bankruptcy, which could allow for a much lower payment - one that you can actually afford.

How can a foreclosure defense lawyer help me?

An experienced Chicago foreclosure defense lawyer will not only explain the complexities of the foreclosure process, but your rights will also be protected. You could be a victim of predatory lending practices, or the foreclosure may involve missing documentation, making it impossible to move forward when challenged by a legal professional skilled in the process.

Fast Service With Our Chicago Firm

You can also take advantage of our free case evaluation. We will review your situation and advise you of your best course of action to avoid foreclosure or keep your home.

Contact our firm to get the fast and professional legal counsel you need to halt foreclosure.