Center for Disability & Elder Law
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A CDEL Success Story...
Early in 2007, CDEL received a call from an elderly woman about to lose her home in a foreclosure action. Her mortgage payments had increased dramatically after a recent interest rate adjustment, and her fixed income was insufficient to cover her expenses. To make matters worse, she had amassed more than $10,000 in credit card debt, as well as 15 building code violations from the City of Chicago.
After analyzing the legal issues, CDEL recruited a team of volunteers to assist. Estate planning attorneys performed necessary title work, and prepared powers of attorney over property and health care. A financial specialist helped obtain a reverse mortgage.
CDEL's team not only saved the woman's home from foreclosure, but also freed up equity to repair the code violations, and even renovate a spare bedroom into an income-generating rental unit. With CDEL's help, the woman ended her financial woes, and restored her peace of mind.