Attorneys

Illinois Foreclosure FAQs

• Q: Does Illinois Law Allow for a Redemption Period After a Foreclosure?
  A: In Illinois, a borrower does not have a right of redemption after a foreclosure sale. However, a borrower does have the right to redeem the property prior to the … More
• Q: Where and When do Foreclosure Sales Take Place in Illinois?
  A: A foreclosure sale of Illinois property occurs on the date and at the location specified in the Notice of Sale for the property. The Notice of Sale must be … More
• Q: What Public Notice Requirements are There for a Real Estate Foreclosure in Illinois?
  A: Illinois is a judicial foreclosure state which means that all foreclosures must happen through the court system. Accordingly, the public is provided with notice … More
• Q: Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Illinois?
  A: Sometimes. If the property was sold in a public foreclosure sale and the amount that the property sold for was less than the amount that the borrower still owes … More
• Q: How Can a Lender Foreclose on a Property in Illinois?
  A: All foreclosures of Illinois property occur through the judicial system. A lender must sue a borrower in state circuit court in order to foreclose on a property … More
• Q: How Long Does the Typical Foreclosure Process Take in Illinois?
  A: Borrowers in Illinois have the right to redeem a property for seven months after they are served with notice of foreclosure. Accordingly, it takes about 210 days … More
• Q: Can I Keep My Home If I File Bankruptcy in Illinois?
  A: Yes, if you are able to keep making payments in full and on time to your mortgage holder and the agreement is approved by the bankruptcy court. Further, you are … More

Click here to view general Foreclosure FAQs