What are the legal fees for foreclosure in Cook County, IL?

Question Details:I'll be going through a foreclosure. Is this something a lawyer can really help me with? If so, how much is it likely to cost in lawyer fees?

Asked 5 years ago under Real Estate | 2649 Views | More Legal Topics

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Erik Swanson | The Swanson Firm, Ltd. Answered 5 years ago This Morton Grove, IL attorney is licensed in Illinois

Yes and no.  A lawyer is certainty able to help you buy time for a refinance, deed in lieu, or other work-out, avoiding a foreclosure judgment.  It's very unlikely a lawyer could get you off in the sense of the foreclosure being dismissed, since the facts are what they are, and discovery and aggressive tactics don't, in the end, make up for factual reality.

Personally, I don't do foreclosure defense without a $5000 retainer paid in advance, and if it's being fought full-out, it could cost $10,000 or so in fees.

SJZ, Member, New York Bar | FreeAdvice Contributing Attorney Answered 5 years ago

If "all" that's happening is that you are being foreclosed on and you (1) do not dispute the foreclosure (including disputing the underlying debt); and (2) you either do not anticipate being sued by the bank for the balance or, if sued, consider yourself "judgement proof" (no income or assets for the bank to take), then no, you probably don't need an attorney. If you are disputing anything or anticipate further legal actions or lawsuits, then you likely do.

As to costs--lawyers vary enormously in what they charge. Mr. Swanson's proposed fee is possibly on the higher side, but is not at all unreasonable, especially if he's experienced in this area; you could possibly find someone to aid you for as little as $2,000 if matters do not go to litigation. Be aware of the old saying, "you get what you pay for," but there is no harm in shopping around. For example: in my area (northern NJ/NYC), you can find good lawyers for anything for $150 an hour (low end; not common) to $250 an hour (fairly mainstream) up though $450-$600 per hour (higher end, but not highest).

Best luck.

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