Home mortgage lenders have never been as willing to work with homeowners on modifying mortgage terms as they are today. That said, if your mortgage lender has filed a foreclosure action against you that means they are fed up with trying to keep you in the home and are willing to assume the legal costs and potential capital loss of taking your home and selling it at auction. The Making Home Affordable “MHA” loan modification program is very powerful and many homeowners are able to successfully apply for this payment relief on their own.
However, if you are past the foreclosure initiation point then it is advisable to hire a qualified Real Estate attorney before it is too late. If the clock is ticking on you then get a free online evaluation at: illinoismortgagemods.com and you will at least learn what options are realistic. Even if you have failed again and again on your own it is still quite possible that you meet the program guidelines and proper representation would turn that No into a Yes.