can a bank garnish wages after a foreclosure in illinois?

Asked by Mommyof3, 60156 Sun Feb 13, 2011

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Millie Lumpk…, Agent, Homewood, IL
Mon Feb 14, 2011
Illinois is a recourse state so you can be pursued for the foreclosure debt. Has your home already foreclosed? You should be aware of the significant impact of foreclosure on your credit score and all the consequences of that. You will also not be able to get a home loan for years. If your home has not foreclosed yet you should speak with both a real estate attorney and a realtor in your area that is experienced in short sales.

Millie C Lumpkin, SFR
Century 21 ProTeam
Phone: (708) 213-6141
1 vote
Randy Schule…, Agent, Saint Charles, IL
Thu Aug 2, 2012
Foreclosure should be considered a LAST resort. With so many homeowners under water today there are several ways to avoid foreclosure. Below are 9 ways to avoid foreclosure. Contact me directly at 224-805-2616 to discuss further.

1. Reinstatement
2. Forbearance
3. Refinance
4. Loan Modification
5. Sell the property
6. Rent the property
7. Short Sale
8. Deed in lieu of Foreclosure
9. Bankruptcy

Keep in mind that a bankruptcy will only stall the foreclosure but not prevent it. I specialize in Distressed Properties and would love to help you take back control of your finances.

Randy Schulenburg
Managing Broker
Mortgage 1st Realty, Inc.
224-805-2616 Direct

I look forward to helping you or someone you know get out of a bad situation.
0 votes
Eli Givoni-S…, , Boca Raton, FL
Sun Feb 13, 2011
I am not sure if Illinois is a recourse state. You should ask an attorney. However, a foreclosure will damage your credit. You can do a short sale and keep foreclosure off your credit.

We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes
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