According to a recent ATTOM Data report, Illinois and New Jersey have the highest concentrations of at-risk real estate markets in the country, with one of the highest concentrations of market risk in Chicago itself. The at-risk designation is based on 2023 data concerning home affordability, the proportion of mortgage balances that exceeded estimated property values, the average local wages as compared to wages required for home ownership, foreclosure rates and unemployment data. Out of the top 50 counties nationwide with at-risk markets, six alone were in the Chicago metropolitan area.

What does the at-risk designation mean for homeowners?

As real estate prices remain high and mortgage rates continue to increase on 30 year home loans, Illinois and the Chicago area specifically face an uncertain future. With the added pressure of high inflation, many homeowners in Cook County are struggling and beginning to face the reality of foreclosure. Unfortunately, facing a foreclosure without the guidance of an experience attorney can be a daunting experience.

At The Law Center, we are a team of specialists that are passionate and up to date about the foreclosure process from start to finish and helping homeowners at the highest level. Our staff and attorneys approach each client and each property as a new challenge, one that requires thorough analysis, zealous representation, and thoughtful strategy. It’s your home, let The Law Center help you defend it.

Call us now and speak with a foreclosure expert on how you can make the foreclosure process work for you -- not against you. (312) 600-8815

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