Foreclosure Process in Illinois

The following is meant to acquaint you with the process of foreclosure as it occurs in the state of Illinois.  This is general information only and MAY OR MAY NOT directly apply to your specific situation.  Nor is the information provided intended to be comprehensive but is simply an overview of the Illinois foreclosure timeline.

According to Realty Trac, ILLINOIS HAS THE 4^TH HIGHEST NUMBER OF FORECLOSURES IN THE NATION.

The good news is that Illinois is what is known as a JUDICIAL STATE.  Unlike non-judicial states, the lender must go to court and get a judge’s permission to foreclose on a homeowner.  This provides an opportunity to fight and STOP THE FORECLOSURE!

Usually after the third missed mortgage payment, the loan is sent to the lender's attorney for foreclosure. A foreclosure lawsuit is filed to end your mortgage and take away your house. The Foreclosure Complaint is filed in court and the summons is ready for service. Service is accomplished when the legal papers are delivered to the homeowner. If the homeowner cannot be located in person, they can be served by the publishing of a notice in the newspaper.

In Foreclosure? What Are Your Options?

You have found this blog because you are in foreclosure or you have received a notice of default from your lender. You are worried that you will lose your home. You have a heavy weight on your chest feeling you have failed financially to support your family. You feel terrible with the uncertainty of NOT knowing what will happen to you and your family when they foreclose on your home. You cannot even sleep because of the anxiety. You are losing not just your home but your physical health and even your emotional health too.

When you search online, the options sound confusing, overwhelming and you are not sure if they will help you at all. These are: