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arlington heights real estate lawyerWhile most people know that buying a home is an expensive process, few people realize that selling a home comes with its fair share of expenses as well - especially if they are doing it for the first time. Not anticipating the true expense of selling a home can lead to unpleasant surprises at best, with many people suddenly realizing that they have put themselves in a desperate financial situation. 

If you are considering selling your home, an Illinois residential real estate lawyer can help you plan carefully and avoid situations where you are responding to unexpected expenses or having to make last-minute accommodations. To learn more about what you should anticipate paying for when you sell your home, read on and then contact Newland & Newland, LLP for help. 

What Do I Need to Pay For When I Sell My House? 

The exact list of expenses will vary according to the complexity of the transaction and the state of your home’s repair. However, in general, it is wise to anticipate the following expenses: 


How Can I Remove a Lien From My Home? 

Posted on in Real Estate

Libertyville real estate lawyerGetting ready to move to a new home only to find out you have a lien against your current house can be surprising and frustrating. In addition to everything else you need to do to get ready to move, figuring out how to remove or contest a lien can be time- and resource-intensive. Liens on a home can prevent people from making offers and can seriously delay the selling and buying process. If you are looking to sell your home and need to learn more about how to remove a lien, an Illinois residential real estate attorney can help. 

What is a Lien On a House? 

“Lien” is a word that means somebody has a legal right to some portion of your property because you owe them money. Not all liens are bad - for example, your mortgage is a lien against your home - but liens can prevent you from doing what you want with your house. For example, some types of liens that could get in the way of selling your home include: 

  • A general lien - With general liens, someone who is owed money by a homeowner can lay claim to any of the homeowner’s assets, including, but not limited to, the house itself.


Waukegan loan modification lawyerNationwide foreclosures are highest in California, New Jersey, and Illinois. Lake County in Illinois has some of the greatest numbers of foreclosures. Most homeowners will do everything in their power to save the home they worked so hard to purchase. At Newland & Newland, LLP, we offer a variety of creative ways to modify your existing loan through firm negotiation with your lender. An experienced real estate attorney can guide you through the process of a loan modification.

Modification Options

Before you reach any sort of agreement with your lender, you should consult with a real estate attorney who may be able to attain more favorable terms on your mortgage loan agreement. It is also important to understand your current financial situation and if it is likely to improve in the near future. The following are some creative ways we utilize to modify a mortgage loan:

  • Forbearance – This is a temporary suspension of your monthly payments. Interest will accrue and the principal in forbearance is due before the house can be sold or when the loan term ends.  


Grayslake, IL shortsale real estate lawyerDuring this time of economic uncertainty, foreclosure activity is up 57 percent nationwide. If you find yourself financially strapped, it may be necessary to do away with what you own and that includes property. Selling your home for less than what it is worth through a short sale is one way to avoid foreclosure. But will your entire mortgage debt be wiped clean after a short sale?

What is a Short Sale?

When your home is sold for a lower price than the amount remaining on the mortgage, it is considered a short sale. Many mortgage lenders will accept less than they are owed to avoid the paperwork involved in the foreclosure and then having to turn around and sell the home.

A short sale is a bit more complex than a typical house sale. Not only is the home sold for a lower amount than what you see on your mortgage loan, but the remaining amount of the loan needs to be considered in your decision because it may still be owed after the sale is completed. A short sale is one way to avoid foreclosure and possibly maintain your credit score, depending on the circumstances. However, some homeowners earn too much money or have too much value in their assets to qualify for a short sale. 


Libertyville, IL real estate lawyerThe economic downturn could force many homeowners into foreclosure as many people continue to struggle with inflation and the impacts of the pandemic. Some homeowners may be able to fall back on equity or sell their homes and pay off their mortgages. However, we have already seen a decline in the sale of existing homes for nine consecutive months. In just the third quarter of 2022, there were nearly 93,000 foreclosure filings and parts of Illinois had some of the greatest numbers of foreclosures filed.

Missed Payments

Foreclosure judgments in 2023 could increase and if you do not take action your home could slip away. A late payment made during the grace period is not cause for concern. But repeated missed payments are more serious and bring you a step closer to foreclosure. 

Two Options to Avoid Foreclosure

If you are behind on your mortgage you cannot afford to ignore the situation. It would be a good idea to consider the assistance of real estate attorney to help you with these two possible options to avoid foreclosure:

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