Illinois Foreclosure Management Firms Target Homeowners
In the recent lawsuit filed against Safeguard, the nation’s largest foreclosure management firm, Madigan claims that the company routinely breaks into occupied homes, damages the houses they are supposed to protect, and forces homeowners to prematurely abandon their properties. Madigan believes the company, which she describes as a “homeowner’s worst nightmare,” has wrongfully dispossessed hundreds of Illinois homeowners facing foreclosure, according to a report from The New York Times.
In response, firms like Safeguard claim that they are simply monitoring foreclosed properties to ensure they are kept in good condition. But this doesn’t explain why the company frequently barges into obviously occupied homes. One Chicago resident, for example, had his door removed from its hinges by a Safeguard representative. The homeowner eventually had his doors replaced, but not without an prolonged legal fight with the company.
Defend Your Home Against Illegal Foreclosure Tactics
Despite the pending lawsuit against Safeguard, Illinois homeowners may still be at risk of illegal or obtrusive tactics if their homes are under foreclosure. If, for example, a property management firm says that you have no right to stay in your home, remember that you can stay until the court approves a foreclosure sale. In Illinois, the average foreclosure process takes more than 800 days, so you may have more time than you think.
In order for anyone to force you out of your home, they must first receive a court order allowing them to do so. If a foreclosure management firm tries to take your home, but cannot offer evidence of a court order, contact a foreclosure attorney and defend your legal rights. Illinois offers robust protections for those looking to save their homes from foreclosure, but you must be as aggressive as the banks in the fight to save your home.