Foreclosure Archives | Steven Grace Law

Deficiency Judgments in Illinois: A Guide for Homeowners

Facing foreclosure is a complex and emotionally charged experience. The potential for a deficiency judgment after the case has finished adds another layer of stress and financial uncertainty. This comprehensive guide explores deficiency judgments in Illinois, empowering homeowners with knowledge and options as they navigate this challenging situation. Understanding Deficiency Judgments: Key Considerations for Illinois […]

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Short Sales: A Lawyer’s Guide

Foreclosure, Short Sale / Steven J. Grace

As a foreclosure defense attorney for over 15 years, I’ve witnessed firsthand the devastation of financial hardship and the fear of losing your home. But there’s a beacon of hope: short sales. This guide, drawn from my extensive experience helping clients navigate this complex process, will equip you with the knowledge and guidance to determine

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someone happy after getting rid of their home in strategic default

Strategic Default: What It Is and What to Consider

Foreclosure, Uncategorized / Steven J. Grace

What is Strategic Default? Strategic default is a deliberate decision to stop making mortgage payments, often because the property is “underwater” (worth less than the mortgage balance). It’s a risky strategy with serious consequences, but it can also offer some potential benefits in specific situations. Benefits of Strategic Default Save money by ceasing mortgage payments

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