Help for Struggling Chicago Homeowners

February 02, 2012

With the tough state of the economy and the housing market, Illinois and Chicago real estate owners and renters need an advocate to keep them apprised of their rights.

Beginning this Saturday, and repeating each Saturday throughout the year, you can enlist the help of some advocates for free.

Homeowners Advocates is offering a series of workshops in 2012 from real estate, financial and legal experts offering practical solutions to get by in today’s economy.

A pair of hands holding a small house.The first workshop, Saturday, February 4, addresses the hot topic of the struggling housing industry: Foreclosure Fraud by Major Wall Street Banks.

According to Homeowners Advocates, 85 percent of all loans originated between 2001-2008 were bundled and sold to one of thousands of mortgage-backed security (MBS) assigned to a Trust on Wall Street. Many of those loans were not properly transferred or conveyed, including many of the 125,000 pending foreclosure cases in the Chicago area. That is foreclosure fraud, and homeowners have a legal foreclosure defense as a result.

“Our goal is to get the word out to as many homeowners asĀ  possible and February’s hot session is designed to help educate homeowners about the most common forms of foreclosure fraud,” said Joe Michelotti, Esq, — a Chicago foreclosure and bankruptcy attorney handling mortgage & foreclosure fraud cases.

To take this further, any irregularities to the chain of title of property can reduce the value and marketability of the property at a later date.

“This could place a ‘cloud on title’ on the very property that many homeowners are trying to save from foreclosure and potentially make it difficult for homeowners to sell their properties even after the real estate market recovers,” said Homeowner Advocates founder Joe Aldeguer.

This free seminar is good for any homeowner that closed a loan with one of the major Wall Street banks or with any originating lender who filed bankruptcy after 2007, as well as homeowners in foreclosure and those who aren’t yet.

Foreclosure and bankruptcy lawyers will be on hand to answer homeowner questions.

What: Homeowner Advocacy Workshops

When: The first Saturday of every month at 1 p.m. starting Saturday, February 4

Register: Call Homeowners Advocates at 630-338-0100

Visit: homeowneradvocates.org for more foreclosure help

Categories: Economy

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