Chicago Area’s Most Expensive Home Going To Auction

A 26-room, 26,500-square-foot French-inspired chateau in Winnetka that has not found a buyer since being put up for sale in 2009 will go to auction, fully furnished, next month. The Chicago Tribune reported on September 8, 2011, that the home’s listing agent, Tim Salm of Jameson Sotheby’s International Realty, estimated that the cost of constructing and furnishing what he called the “trophy home of the North Shore” at $40 million.

The house, owned by investment company CEO Sherwin Jarol and his wife, Deborah, was unofficially put up for sale in 2009 for $32 million, although it was officially listed and placed in the local multiple listing service with a $28 million asking price before being pulled from the market, according to the Tribune.

Salm blamed the “sour economy” for the property’s failure to sell conventionally, but told the Tribune “international marketing of the auction will net a larger pool of prospective buyers” for the house, called Le Grand Reve. The auction will be conducted on October 29, 2011, without reserve.

Homeowners of all types have been struggling to sell properties in this market, often leading to doubts that any real form of foreclosure help exists. Even if you are not looking to sell your house, but rather just to stop struggling through hard times, you can get deserved relief today by filing for bankruptcy . Whether a Chapter 13 or Chapter 7 process better suits your particular case, our Chicago bankruptcy attorneys can answer all of your questions and help end creditor harassment. If you have been thinking about filing a bankruptcy means test , you do not have to take these steps by yourself. Contact our office to set up a free initial consultation today that can help you get an affordable bankruptcy now.

Benjamin Brand Services – Chicago bankruptcy lawyers

$196K In HUD Funds To Be Used For Foreclosure Prevention Counseling

The U.S. Department of Housing and Urban Development announced more than $10 million in housing counseling grants in “an effort to help families keep their homes and avoid mortgage scams” on September 2, 2011. Nine Chicago-area housing counseling agencies will share more than $196,000 to be used specifically for assistance related to foreclosure prevention counseling, mortgage modifications and mortgage loan scams, according to the Chicago Tribune.

The disbursements are unspent funds from the 2010 appropriation and awarded to HUD-approved housing counseling agencies. “It is crucial that we support these agencies in helping struggling families do whatever is possible to avoid foreclosure without being victimized by so called mortgage ‘rescue’ companies,” HUD Secretary Shaun Donovan said in the press release.

The Tribune reported that the local agencies receiving funding were Latin United Community Housing Association, Rogers Park Community Development Corp., S&S Development Group, South Suburban Housing Center, Will County Center for Community Concerns, Parkers in Charity, Inc., DuPage Homeownership Center, Inc., and Interfaith Housing Center of the Northern Suburbs. Funding for the agencies ranged from more than $19,000 to almost $27,000, according to the Tribune.

The money being channeled toward foreclosure help may not be enough for many people currently struggling through hard times. One way to eliminate bills and stop foreclosure is to file for bankruptcy . Our Chicago bankruptcy lawyers can help answer all your questions about a Chapter 13 or Chapter 7 process and reach a debt settlement that will end creditor harassment. Whether you have heard of a bankruptcy means test or not, you can contact our firm for a free initial consultation that can answer all of your questions and help you get deserved relief today.

Benjamin Brand Services – Chicago bankruptcy attorneys

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