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 foreclosure sale. A foreclosure sale cannot occur until the borrower’s right of redemption has expired. The redemption period is between 3 and 7 months after a foreclosure complaint has been filed in court.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.