On August 14, 2014, Mary Ellen Podmolik, Chicago Tribune reporter published an article titled "Foreclosure activity continues to fall in Chicago area, U.S."
She reported that foreclosure activity in the Chicago area decreased in July but the state continues to have one of the highest foreclosure rates in the nation. In an area that stretches from Kenosha, Wisconsin to Northwest Indiana, 6,572 homes received a foreclosure notice last month, RealtyTrac said. Foreclosure proceedings were started against 2,267 properties, while a court-supervised foreclosure auction was scheduled on another 2,516 homes. Banks repossessed 1,789 properties. The overall level of activity is down 12 percent from June and 7 percent from July 2013. Still, Illinois had the 4th highest foreclosure rate last month.
If you are facing foreclosure, you have options available. A short sale is a real estate transaction in which the lender agrees to the sale of a house for less than the balance owed on the loan. Banks are usually much more interested in facilitating short sales which avoid costly foreclosures. And, short sales allow you to repair your credit sooner than if you went through a foreclosure.
Bradford Miller Law has been representing both buyers and sellers of short sale properties for several years. We offer free legal representation to homeowners seeking a short sale. Call us At 312-238-9298 for a Free 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, IL 60602
http://www.bradfordmillerlaw.com
Key words: Chicago short sale attorney, Chicago residential real estate attorney, Chicago landlord tenant law attorney, Chicago eviction attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
