Solutions

 

We recently had a 67 year old retiree whose house was being sold at a foreclosure action the following day. Her monthly income was $1300 over half of that went to the mortgage. She had been relying on a bank to refinance her house but at the last moment she was told they couldn't do it.

 

In less than 24 hours, our new client was about to lose over $180,000 of equity that she had built over a lifetime.

 

We quickly intervened and compelled her lender to stop the sale. Over the next few weeks, we mobilized to find the right professionals to secure a reverse-mortgage. This included structural engineers and coordinating with City of Chicago inspectors who had issued citation because the house did not have an updated porch.

 

In the end, the foreclosing lender was paid-off with the reverse mortgage. Many of the City of Chicago citations were dismissed. She now has no mortgage payment, didn't lose her equity and still has a place call home.

 

Let us find a solution for you.