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How to Collect on a Foreclosure Complaint

Posted on in Debt Collection

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A crucial step to ensure your foreclosure complaint is filed quickly is to provide your attorney with the necessary documents for review.  The documents your attorney needs are:

  • Any demand letters, notices, or pre-foreclosure correspondence sent to the mortgagor(s);
  • A copy of the executed Note/Credit Agreement and Disclosure;
  • A copy of the executed and recorded Mortgage/Deed of Trust;
  • All endorsements or allonges;
  • All assignments of mortgage, whether or not they were recorded;
  • Any documents showing acquisition or merger;
  • Any modifications or change in terms agreements;
  • Title report, if ordered;
  • Appraisal, if available; and
  • Current payoff, including principal balance, per diem, past due payment/maturity date, and interest rate.

Also, it is important to advise your attorney whether you have possession of the original Note/Credit Agreement and Disclosure and Mortgage/Deed of Trust.  This ensures you are prepared in the event that the mortgagor(s) raises this issue during the foreclosure proceeding in an answer or discovery.

This list is not exhaustive.  Rather, this list shows what is customarily required for your attorney to draft the complaint with accompanying documents and fully review the file to confirm there are no apparent title, priority, acceleration, or other issues.  While providing these documents does not guarantee a mortgagor will not file frivolous affirmative defenses, you have the advantage of knowing you can likely defeat a mortgagorā€™s claim that your complaint is legally insufficient.

Contact a Chicago Mortgage Foreclosure Attorney

If you are a mortgage lender and need assistance collecting on your owed debts, contact Walinski & Associates, P.C. We have more than 40 years representing creditors. Our Chicago debt collection lawyers can be reached at 312-704-0771.

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