Illinois Tag

29 May How To Fill Out The Reaffirmation Agreement And Cover Sheet in Five Easy Steps

To reaffirm a debt in bankruptcy you must ask your creditor to send you reaffirmation paperwork, consisting of a Reaffirmation Cover Sheet, a Reaffirmation Agreement, and a Motion For Approval of Reaffirmation Agreement. The creditor should fill in most or its entire portion of these papers before sending you the documents. Here are Andy Miofsky’s Five Easy Steps for you to complete the debtor portion:
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14 Sep What Happens To My Property After Foreclosure?

In Illinois, property is sold at foreclosure by one of several methods, by judicial sale in court, or by a court appointed receiver, trustee or sheriff, usually in the courthouse or by agreement of the parties. The borrower has 7 months after the lawsuit was filed or 3 months after a foreclosure judgment was entered by the court to redeem the property by paying a specified amount to the plaintiff/mortgage holder. If the property is not redeemed within the redemption period, the foreclosure sale transfers all interest in the property to the buyer. A story from California shows what can happen after a bank takes property.
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