“Zombie foreclosures” in Illinois are haunting homeowners well into the holiday season and Illinois has the fourth overall number of zombie foreclosures in the United States. Perhaps you are facing this situation and need a real estate attorney to avoid losing your home to foreclosure. Or worse, maybe you already lost your home to foreclosure and are just finding out that outstanding debts on the property are still your responsibility. At Newland & Newland, LLP, we work tirelessly to keep you from losing your home in the first place by finding solutions to try to prevent foreclosure.
What is a Zombie Foreclosure?
Zombie foreclosures tend to stick around because the title of the house was never transferred from the original owner to the bank or the new homeowner. Some residents in Illinois are being billed for overgrown weeds and demolition costs on properties they thought they no longer owned. It is always good practice to check public records to make sure the deed is transferred to the new owner, even if you moved out of your home due to foreclosure.
Prevent a Foreclosure of Any Kind
In Illinois, foreclosure involves a judicial process that takes more than five years to complete. Here are two ways to prevent foreclosure:
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