Illinois Mortgage Foreclosure Law allows a Lender to pursue a personal deficiency when the proceeds of a judicial sale do not satisfy the amount owed. Often, the lender will seek a personal deficiency, and sell the rights to collect on such a deficiency to a third party, who will aggressively pursue collection on it.
Our dedicated team of Attorneys can help in this regard. We have experience negotiating with Banks to either save our clients homes or help plan a graceful exit without the threat of a personal deficiency. Our team of Attorneys can explore all options available, including a Deed in Lieu of Foreclosure, Consent Judgment, Short sale and Bankruptcy options to protect our clients against a personal deficiency. Call us at 847-786-8999 for a free Consultation.