How Can a Lender Foreclose on a Property in Illinois?

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 when a loan is in default. The court can order that a foreclosure sale occur or the borrower can offer a deed in lieu of foreclosure where the property is deeded back to the lender without a foreclosure sale occurring.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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