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High Foreclosure Rates Alarm County

Like many other cities across America, Chicago has not been immune from the high rates of foreclosure. However, with over 70,000 foreclosure cases outstanding in one county, area officials are starting to grow concerned about the housing crisis.

With so many individuals and families in danger of losing their homes, county officials called a summit to discuss the widespread problem. Some of the ideas discussed at the summit included tightening bank regulations, ownership counseling and courts that are stronger in foreclosure cases.

While the summit was being held, a separate meeting led by a Chicago alderman saw another action passed that aims to reduce foreclosures in the county. This new ordinance will force banks that foreclose on homes to be responsible for their upkeep, providing an incentive to either keep people in their homes or offer the properties at reduced rates.

Have you received a final notice of foreclosure? Contact a Chicago foreclosure lawyer from our law office who can get involved in your case immediately. In some cases, we can help you keep your home by pursuing foreclosure alternatives.
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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