• State Sues Mortgage Rescue Companies For Not Rescuing

    Illinois Attorney General Lisa Madigan filed lawsuits against four Chicago area companies and attorneys alleging that they illegally charged consumers for fraudulent mortgage rescue or loan modification services that were little if any help to those seeking foreclosure help , the Chicago Sun-Times reported on September 28, 2011. Companies named as defendants in the lawsuits filed in Cook County Circuit Court included ZeTrust Legal Services in Chicago, Legal Modification Network LLC in Woodridge, Loan Litigators International LLC, now out of business after being based in Lombard, and Exelpol Management & Consulting Inc., a dissolved corporation that operated out of Schaumburg.

    The Sun-Times also reported that Cook County State’s Attorney Anita Alvarez’s office filed a similar lawsuit against an Arlington Heights-based loan modification and debt settlement company, Legal Housing and Debt Advisor LLC. “The new twist on this scam is that these predators are really using lawyers as a front so that they can conceivably get around the law and collect the upfront money,” Madigan said, according to WBEZ-FM. She noted that in reality the attorneys performed no legal services for the homeowners.

    Our Chicago bankruptcy attorneys will make any bank trying to foreclose on your home prove that they have the right to do so. If we are unable to get the bank to accept a proposal for a loan modification program, our Chicago bankruptcy lawyers can always help you stay in your home by assisting in filing for Chapter 7 or Chapter 13 bankruptcy. Were you a victim of a mortgage rescue or loan modification scam? Are there other businesses or institutions you believe should be facing lawsuits?

  • Foreclosure Process Slowing Down, But Not Going Away

    The median number of days to resolve foreclosure cases rose 25.5 percent compared with a year ago in the Chicago area for the three months ended in June, the Chicago Tribune reported on September 22, 2011. A report released by the Woodstock Institute also dais processing times are up almost 51 percent compared with three years ago.

    During this year’s second quarter, it took a median 363 days to move a foreclosure case through the court system in Cook County, 390 days in Kane County and 307 days in McHenry County, the Tribune reported. While longer processing times and the lowest number of completed foreclosure auctions completed since the housing crisis began are giving homeowners more time to try and save their homes, the Tribune noted that the number of delinquent homeowners is again on the rise. State and federal investigation of mortgage servicers’ internal processes put a temporary hold on cases, but August also saw “a dramatic leap in new foreclosure filings” that will add to the backlog.

    Sarah Duda, a senior research and project associate at the Woodstock Institute, told the Tribune, “If the reason why auctions are down is that people’s homes are being saved, that’s really positive. But I don’t think that’s what’s happening.” Indeed, time is rarely on the side of homeowners facing foreclosure. If you need foreclosure help now, our Chicago bankruptcy lawyers can provide you with all the necessary Chapter 13 or Chapter 7 bankruptcy information you will need to help you save your home. Filing for bankruptcy can help you eliminate bills and stop foreclosure, but it is imperative that you contact our firm for a free consultation so we can help you get deserved relief today.

    Benjamin Brand Services – Chicago bankruptcy attorneys