How to Stop Foreclosure With a Lawyer in Joliet, Illinois
If you defaulted on your mortgage loan, your Joliet, Illinois, house is in danger of foreclosure. Mortgage default usually means you have missed two or three consecutive mortgage payments. You may have received a default notice by mail and a message to submit full payment of the default amount to avoid foreclosure proceedings. If you can't make the payments and keep your house out of foreclosure, you need to employ a bankruptcy lawyer.
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Instructions
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Contact the Illinois State Bar for a list of bankruptcy lawyers you can choose in Joliet, Illinois. Select a few and interview each of them to determine which lawyer is the best fit for you.
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Consult with the lawyer concerning your issue. Tell the lawyer that you are in default on your home mortgage in Joliet, Illinois, that you cannot pay the default amount, and that you want to know your options as far as stopping foreclosure proceedings. You should also inquire about the cost to be represented by the lawyer.
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Consider bankruptcy. A Joliet, Illinois resident can file for either Chapter 7 or Chapter 13 bankruptcy. In either chapter, the mortgage company must halt foreclosure proceedings once you file your bankruptcy petition.
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Discuss the result that each chapter of bankruptcy. Chapter 7 bankruptcy stops foreclosure for about three months while your case is pending. Once you receive a discharge of debts, you must pay your mortgage arrears or lose the house. In a Chapter 13 case, you have three to five years to make up missed mortgage payments. You'll also need to repay your other debts, rather than have them discharged like in a Chapter 7 bankruptcy case. In a Chapter 13 case, you can permanently stop foreclosure.
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Proceed with your Chapter 13 case. You need to provide financial records detailing your income, debts and property to your lawyer. The lawyer will help you with your bankruptcy petition and file it with the bankruptcy court serving Joliet, Illinois. Once your petition has been filed, the mortgage company can't foreclose on your home.
U.S. Bankruptcy Court Northern District of Illinois
57 N. Ottawa St.
Courtroom 201
Joliet, Illinois 60432
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Develop a debt repayment plan with your lawyer. It's required to have a Chapter 13 bankruptcy case confirmed. Your missed mortgage payments should be spread evenly across the three- or five-year plan. You need to make all plan payments and regular mortgage payments outside of the plan to keep your Joliet, Illinois home.
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Tips & Warnings
You should make plan payments to the bankruptcy trustee administering your case.
If you miss a payment, your house will be in danger of foreclosure.
References
Resources
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