A recent study by economists at the University of Chicago, Northwestern University and the European University Institute found that 26 percent of current mortgage defaults are "strategic" walk-aways from upside-down mortgages.  Since the release of that study in July 2009, numerous news and blog articles have surfaced questioning the ethics of intentionally walking away from a home.

Wolf Consultants, Inc., is a property management company.  Our role is not to question whether it is ethical to walk away when you're under water, or if you simply can no longer pay for your home due to job loss or other loss of income.  But if you've made the decision to walk away we can help you do so in a responsible manner that will maintain the greatest possible value of the property and for the community you are leaving behind.

Many distressed homeowners are unaware of another increasing trend:  Lenders also are walking away from abandoned properties. They are choosing to not take title to properties awarded to them in foreclosure which leaves homeowners legally responsible for fines and costs related to the deteriorating, abandoned properties.  Our free service can help you avoid such pitfalls.

If you decide to walk away, walk away clean.

Our services are free.  Yes.  Free.  There are no up-front or hidden costs, though we will need to inspect the property you are leaving as part of our application process.  Accepting properties to manage and maintain is at our sole discretion.

Why?

You may wonder what possibly could be our motivation behind offering this free service.  There are several factors that led us to launch this site:

• We've seen the plight of foreclosure - and irresponsible walk-aways - in our own neighborhoods including overgrown lawns, water damage and mold, pest infestation, and squatters using abandoned homes for illegal activities.
• We recognize that our government's approach cannot keep up with the need and leaves too many families out in the cold.
• Banks and other property lien-holders do not have the resources or, increasingly, the interest to properly maintain properties and prevent the downfall of whole communities.

Our approach considers the entire cycle created by the housing crisis, from the inability to manage mortgage payments to the need for alternative housing when the criteria for obtaining a home loan is stiffer than ever.  Every home we preserve, each family we help secure alternative housing, brings us all one step closer to the end of the economic crisis.

Our focus is on residential properties, including single-family detached and attached (duplex/townhome) residences, condominiums and apartment buildings, throughout Cook, DuPage, Lake, McHenry, Will, Kane and Kendall Counties in Illinois.