Law Offices of Adam J. Feuer

12/01/2020

Excited to support the work of many Chicago area non-profits at this event next week. We will provide vital information and answer questions about the protections available to homeowners and renters during COVID-19. Virtual event is free and open to all.

05/21/2020

Are we heading for a second foreclosure crisis? The Chicago area is at risk of a new round of foreclosures because of the high proportion of homeowners here who owe much more on their mortgage than their home is worth.

Nearly 570,000 of the county's households have at least one income earner in an occupation that has been affected by the stay-home order, according to DePaul's Institute of Housing Studies.

03/24/2020

Lenders and loan servicers have announced temporary forbearance and permanent modification programs to assist borrowers impacted by COVID-19. But people must proactively apply to get the relief they need. If you are struggling to pay your mortgage and need help, contact Chicagoland Consumer Advocates to schedule a phone or video consultation. Our fees are reasonable and in some cases can be partially deferred until you're back on your feet.

https://chicagolandconsumeradvocates.com/coronavirus-forbearance

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Chicagoland Consumer Advocates Protecting People & Their Property

03/23/2020

Most banks and mortgage loan servicers have announced programs for mortgage borrowers to have their loans put into a temporary forbearance in response to the COVID-19 pandemic. Forbearance provides immediate payment relief by temporarily eliminating the requirement that borrowers make payments on their loans to keep them current. The catch is that under most of these programs, borrowers have to proactively apply for the forbearance in order to get it. If you are experiencing a reduction in income due to layoff, reduction in hours, business closure or any other reason related to the coronavirus pandemic, Chicagoland Consumer Advocates will help you apply for the forbearance you need to get through this. Our attorneys and support staff are trained in how to do these applications, which can be complicated and must be done correctly to get the relief. We will take your financial situation into account and provide this service for a low flat fee that you can afford.

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Chicagoland Consumer Advocates Protecting People & Their Property

03/17/2020

U.S. banking organizations have built up substantial levels of capital and liquidity since the 2007-08 financial crisis--the
largest banking organizations now hold $1.3 trillion in common equity and $2.9 trillion in high quality liquid assets (HQLA). Recognizing this, the FDIC and OCC have issues guidance encouraging banks to work with customers, particularly consumer and small business borrowers, affected by COVID-19. FDIC recommends banks begin waiving certain fees (e.g overdraft and ATM fees), and granting loan modifications due to temporary hardships resulting from COVID-19 related issues.

On March 13, 2020, the U.S. Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released new…