NEW FORECLOSURE FILINGS UP ALMOST 200%

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(May 17, 2022) It’s been about ten months since the foreclosure moratorium for federally backed mortgage loans expired on July 31, 2021, and foreclosure activity has been on the rise ever since. Right now, new foreclosure filings are up 188% from a year ago. Illinois in particular has been among the hardest-hit states, with the highest foreclosure rate in the country -- indeed, 1 in every 791 housing units is in foreclosure in Illinois.

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As foreclosure filings increase, what should homeowners in Illinois expect? Lenders are gearing up for battle, as there is a big wave of default activity coming out and loans that were in default before the pandemic moratorium re-enter the foreclosure pipeline. Now more than ever, if you are at risk of going into foreclosure or struggling to make your mortgage payment, it’s important to have a competent and aggressive attorney in your corner. At The Law Center, we are a team of specialists that are passionate about foreclosure defense 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.

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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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