In December of 2017 we were hired by homeowners in Williamson County, Illinois who needed help keeping their home. To protect their privacy, I'll call them the Taylors.
Unlike most of our clients who want to avoid foreclosure and/or get a loan modification, the Taylors had already lost their home in a foreclosure auction and didn't want a loan mod.
Wait a minute. If they'd already lost their home, why in the world did they hire a law firm to help them save it?
Because a foreclosure sale isn't necessarily the point of no return in foreclosure. There are ways for a homeowner to get their house back even after it has been sold. There's something called a right of redemption, which is: “the right of a debtor whose real property has been foreclosed upon and sold to reclaim that property if they are able to come up with the money to repay the amount of the debt.”