PAYMENT ASSISTANCE. Some state and local governments and charitable organizations offer programs that will pay part or all of your mortgage for a limited amount of time. Call your church, your city, village, county and state government offices to ask for assistance. If they do not offer a prog
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08/29/2008
FORBEARANCE PLAN. This option may provide for a temporary reduction or suspension of payments. The payment amount will be increased at a later time to repay the delinquent amount. Forbearance is available if you have a VA loan and may be available for other types of loans. If the reason you hav
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08/29/2008
PARTIAL CLAIM. This alternative may work if the reason you fell behind on your mortgage payments was temporary. If your loan is an FHA insured loan, your lender may be able to obtain a one-time payment from the FHA Insurance Fund to bring your mortgage loan current with payments. You may qualify
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08/29/2008
REPAYMENT PLAN. Your mortgage company may agree to set a schedule of payments to allow you to catch up on delinquent payments. This usually involves making a full regular monthly payment plus paying a little extra each month to repay the delinquent amount over a specified period of time. A repa
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08/29/2008
REINSTATEMENT. If you can pay the total outstanding amount owed to the mortgage company, you can continue on with the mortgage with no changes to the terms. Illinois law allows a one-time opportunity to reinstate the mortgage before the foreclosure judgment is rendered. The payment amount and t
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08/29/2008
REFINANCE. This option allows you to use the equity you have in your home to pay the delinquent amount by obtaining a new loan. Depending on the interest rate of the new loan, your monthly payments might be reduced. You can explore refinancing with your existing mortgage company as well as with
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08/29/2008
There are several alternatives to foreclosure which have less impact on your credit. The type of mortgage loan you have and what your mortgage company will allow determine what alternatives may be available. How do you learn which alternatives are available to you? 1. Contact your mortgage compan
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08/29/2008
THERE ARE ALTERNATIVES TO FORCLOSURE! If you are behind on your monthly payments, then you should consider the alternatives to foreclosure. Foreclosure results in adverse credit and other financial difficulties. It becomes more difficult to obtain credit or another mortgage if you have a foreclo
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08/29/2008
65th Birthday Present for Homeowners in Illinois - Real Estate Tax Reduction Illinois Senior Homestead Exemption Senior home owners' in Illinois can apply for a Senior Homestead Exemption to reduce their real estate taxes the year in which they reach 65 years old. The Senior Homestead Exemption l
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06/18/2007
LAURA MOORE GODEKAttorney at Law913 N. Curran RoadMcHenry, IL 60050Telephone (815) 344-1965Fax (815) 363-1972 DIRECTIONS TO OFFICE The office is located on the Northwest corner of Draper Road and Curran Road. The office is attached to a residence at 913 N. Curran Road. The address numbers are loc
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05/24/2007
