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answered on Jul 10, 2011
Yes, you will owe the difference. However, many lenders forgive the difference. Althoug that may sound great, in reality it is not as good as it seems, as a 1099 will be provided to the IRS and you may be responsible for taxes on the debt forgiveness. they cannot directly attach your social... View More 
We received a notice of hearing (regarding our mortgage in Dupage County IL) It gives no information as to what needs to be done and if we have to be present. We do not live in IL. We have a home in IL that is being rented but is in foreclosure.
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answered on Jul 10, 2011
It means that on the date listed in the notice a motion or an evidentiary proceeding will take place. Usually, a copy of a motion is attached. Without more information being posted2cx9, I can not provide you with anything more constructive. Good luck.
The complaint states the capacity in which the plaintiff brings this foreclosure is the Mortgage under 735 ILCS 5/15-1208. They also list the assignment recorded as n/a. Don't they have to state who the actual holder of the Note is or who the assignment is under to have Standing to bring... View More
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answered on Jul 10, 2011
Generally speaking that is correct. Your posting seems to indicate that there may not have been an assignment of the note. However, they still need to sue based on the note and produce the original
answered on Jul 6, 2011
when you bought the house, you signed a promissory note to the lender for the amount you borrowed. the mortgage is simply a lien on the property to secure payment of the promissory note. you are indebted to the lender for the full amount still owed and will eventually have a judgment rendered... View More
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