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Woman Purchases Home for $1 and Faces Foreclosure

Just because you purchase a home for one dollar does not mean you are actually getting a good deal.

That is what one woman learned when she bought a 19th century Victorian home for just one hundred cents. There was a catch, however: the home had to be moved off the property since the church who owned the land needed to expand.

The woman agreed, and right off the bat had to pay $50,000 to have the house moved. Of course, the house had to be renovated, which meant an additional hundreds of thousands of dollars, all of which the woman was prepared to pay.

That is, until she lost her job, and then was diagnosed with cancer in 2009. As a result of both tragedies, the bank told her that the property would soon be foreclosed on. In order to avoid foreclosure, the woman decided to sell the property - at a significant loss.

If you want to combat foreclosure on your home or property, contact a Chicago foreclosure attorney from our law office now to learn more about your rights as well as your options as a homeowner.

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The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100