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Foreclosure: Consumer & Commercial – IN & IL

We can commence foreclosure action on commercial or residential real estate in Indiana and Illinois owned by the debtor to sell the realty, purchase at foreclosure and/or protect any deficiency balance, place and enforce judgment liens, or take action to protect the creditor’s interest where the foreclosure is initiated by another party on real estate on which the creditor has a lien.

REO Closing / Eviction Services

REO Closing/Eviction services are performed as an ala carte service or as part of a comprehensive REO services package after the property is under contract. Our goal is to provide smooth REO closings and evictions that are problem free, meet the terms and closing date specified in the contract. By working closely with the title company we are able to address and solve title issues.

Example of standard REO Evictions and Closing services:

  • Evictions
  • Order Title
  • Resolution of title issues
  • Document Review of closing related documents (ensure that signature lines are complete)
  • Direct to the appropriate parties for signature
  • Review and reconciliation of HUD-1 with title company and closing agents (as appropriate to back up for charges to the buyer/seller)
  • Itemization of all concessions paid by the seller – as per the contract
  • Meet or beat contract closing date
  • Delivery of sale proceeds

Loss Mitigation

Our staff works hand-in-hand with our clients, investors and guarantors to aggressively identify and pursue loss mitigation opportunities and resolution. We understand the importance of helping borrowers remain in their homes and helping clients find opportunities to transform previously non-performing loans to performing assets.

Our efforts will typically include, but are not limited to, solicitation, review and analysis, pursuit of repayment plans, special forbearance agreements, pre-claims, loan modifications, refinancing programs, short payoffs, deed-in-lieu, cash-for-keys, temporary indulgence and other client/investor/MI company/agency workout alternatives.

Our goal is to protect our clients’ rights by assisting the  borrowers experiencing short- and long-term hardships to remain in their homes and/or resolve the default as quickly as possible in accordance with the desires and needs of the borrower(s), client, investor, mortgage insurance companies, and agencies.