Home. For many people in Illinois, their homes are places of refuge. They are places to escape all the bad that is going on in their lives. Unfortunately, numerous individuals in the state are facing the threat of foreclosure; so now, even their homes are not places where they can go to seek some level of relief.
When there is a chance that one might lose his or her home to foreclosure, it is normal to research the many ways available to stop the process. A quick Google search for “how to stop foreclosure” will bring up a number of ideas, some of which can really do more harm than good. For example, debt relief firms have been around for quite some time. They make amazing promises but their actions fail to deliver on those promises.
According to the Federal Trade Commission, those looking for debt relief options need to be aware and careful of mortgage relief scams. There are too many people out there preying on the fears of distressed homeowners. In the end, homeowners end up paying a lot of money to the wrong people and end up losing their homes anyway.
Illinois residents who wish to take actions to better their financial situations and stop the foreclosure process can do so with the right help. An experienced bankruptcy attorney can review one’s situation and help put together a plan of action that will actually help solve the problem, not make it worse. For some, this may involve pursuing bankruptcy filings, and for others, a number of other debt relief options may do the trick.
Source: consumer.ftc.gov, “Mortgage Relief Scams“, Accessed on Sept. 21, 2017