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: Essential Insights and Considerations

Foreclosure, Uncategorized / Steven J. Grace

The History of Strategic Default In this article, we will explore the concept of strategic default, a legal maneuver that gained prominence during the housing crisis of the 2010s. During that period, many homes were worth significantly less than the outstanding mortgage balances, often burdened by second or even third mortgages. As the subprime housing

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