Illinois  |  Real Estate Law

Legal Question

Asked on: 7/02/13, 7:32 pm

I am in Illinois and am going through a foreclosure. My monthly mortgage is $2500 and I can't afford this payment alone (going through a divorce). However, I have several thousands saved, and wanted to know if I bought a home cash at an auction can the bank put a lien on my new property. Also I would put this money toward the loan but I owe $250,000 and I have no where near this amount. I am not trying to skip out on my responsibility, but I do need somewhere to live, and can't afford $2500 a month. Thanks in advance.

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