Bow Tie Blog
Legal Insights & Expert Analysis
Stay informed with the latest legal developments, practical advice, and expert insights from The Bow Tie Attorney. Navigate complex legal matters with confidence.
- January 12, 2026
I Just Missed My First Mortgage Payment in Illinois: What Should I Do This Week?
Missing your first mortgage payment in Illinois feels like the moment everything starts to fall apart. In real files, though, the first thirty to sixty days after that missed payment are usually quiet on the surface—and that quiet window is exactly when you have the most control. This article explains what typically happens behind the scenes at your loan servicer after you miss a payment, what letters and fees to expect, and, most importantly, what to do in the very first week. You will leave with a simple, seven-day action plan focused on understanding your numbers, contacting your servicer the right way, and deciding when to involve The Bow Tie Attorney before your file turns into a full foreclosure case.
- January 7, 2026
Short Sale vs. Deed-in-Lieu vs. Letting It Go to Sale in Illinois
Once you realize that keeping the property in Illinois is not realistic, the real question becomes how to exit in a way that respects your finances, your family, and your future. This article compares three main paths—a negotiated short sale, a deed-in-lieu of foreclosure, and simply allowing the judicial sale to proceed—using real-world pros and cons instead of one-size-fits-all advice. It explains how The Bow Tie Attorney looks at buyer strength, deficiency exposure, tax issues, and timing, and why the right answer depends on your bigger life picture, not just what your neighbor did.
- December 22, 2025
Deficiency Judgments in Illinois: Will the Bank Come After Me After the Sale?
For most Illinois homeowners, the foreclosure sale feels like the end of the story: the house is gone, the case is over, and the bank moves on. In many files, that is true. But in others, the lender does not walk away quietly; it asks the court for a deficiency judgment and keeps the debt alive even after the sheriff’s sale. This article explains what a deficiency judgment is under Illinois foreclosure law, how the number is calculated, when banks actually decide to chase it, and what legal tools exist to negotiate, limit, or avoid a deficiency. Most importantly, it shows how early planning with The Bow Tie Attorney can turn a vague fear of lifelong debt into a practical strategy for your next chapter.
- December 17, 2025
Five Contract Clauses Chicago Investors Ignore (That Blow Up Deals Later)
Chicago investors live in the deal flow: find it, tie it up, move on to the next one. The problem is that the same speed that helps you win offers also makes it easy to skim right past contract clauses that quietly decide who gets sued when things go sideways. This article walks through five Illinois contract clauses investors routinely ignore—attorney review, inspection contingencies, assignment language, financing outs, and rent-roll representations—and shows how a few intentional tweaks with The Bow Tie Attorney can save you from litigating a broken deal months or years later.
- December 15, 2025
What to Bring to Your First Call with a Foreclosure Defense Lawyer in Illinois
When you finally decide to call a foreclosure defense lawyer in Illinois, the last thing you want is to feel scattered or embarrassed because you cannot answer basic questions about your loan. This article shows you exactly what to gather before that first conversation so you can use the time well. We walk through the key documents, emails, court papers, and income information The Bow Tie Attorney looks for, and how a simple written timeline can turn a stressful emergency call into a focused strategy session.
- December 15, 2025
I Got a Foreclosure Summons in Cook County: How to Read It and What to Do in 7 Days
When a Cook County sheriff or process server hands you a foreclosure summons, it feels like the worst moment in the world. In real files, though, that packet is a roadmap and a stopwatch, not just a threat. This article walks you through the Cook County mortgage foreclosure summons in plain English, explains the 30-day appearance deadline, shows what can happen if you ignore it, and gives you a focused seven-day checklist so you can turn panic into a plan instead of a default.