Recent content by jacklogan

  1. J

    Read this. What are our options in IL? What should I do?

    If you have no equity in the property and you have a mortgage and the market value is less than the amount of the mortgage loan, contact your lender, explain the repairs needed and the estimated cost, and ask for time to locate a buyer who will offer to purchase at a price that will obviously...
  2. J

    Foreclosure

    If your divorce will prohibit you or your spouse from staying in the house on one income, then you have to get out. If the current market value is less than the loan amount then the lender may let you sell the property under what is called a 'short sale'. Under this type of sale the lender stops...
  3. J

    Unlawful Foreclosure

    Legal fees seem very high. I would contact the agency in your state that regulates mortgage lending, usually the Dept. of Banking or Consumer Protection Dept. I would also contact the Consumer Division of the Offfice of the State Attorney General. Good luck
  4. J

    After Full Signed Closing, Bank Could Not Sell Loan, So Now They Want to Refuse Loan

    To whom is the Note you signed payable? If that entity is still in business they have to fund the Note. Contact the state agency that regulates mortgage licenses and the consumer affairs section of the state attorney general's office. Good luck.
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