Home Foreclosure In Illinois

When you can’t pay your mortgage on time, you start to panic. How  much time do I have to get caught up? What happens when a foreclosure is  filed? How soon can they sell my house, and what can I do to stop it?  What follows below is a description of the process and answer to these  questions.



Mortgage  payments are generally due on the first of each month, but treated as  on time as long as they are processed by the 15th. If the payment is  processed after 15 days a late charge is assessed. Bear in mind that  payments are usually processed a few days after they are received.

Once  the account goes into the second month of being unpaid, the mortgage  account becomes delinquent. Somewhere between 45 and 60 days the  mortgage company usually sends a letter demanding full payment

If  the home mortgage remains delinquent between 90 and 105 days the  mortgage company stops accepting any payments and declares a default.  The loan then gets transferred to the loss mitigation department  (foreclosure department) and referred out to a foreclosure law firm.

The  law firm may send a letter to the homeowner about the delinquency to  allow them time to pay the back payments and additional fees and costs.  In addition, the mortgage company or its attorney must serve a notice of  the right to reinstate the loan at least 30 days before filing a  foreclosure.

If attempting to catch up at this point, the  homeowner must come up with the full amount owed in one payment i.e.  payment plans will not be set up. The law firm will conduct a title  search to determine what parties will be a defendant in a foreclosure  law suit: like 2nd mortgages and other possible lien holders. The cost  of the title search, as well as all attorneys’ fees and other costs, is  added to the amount that must be caught up.


Illinois  is a judicial foreclosure state. That means a lawsuit has to be filed  and served upon the homeowner, upon anyone with a recorded lien on the  property, and also on other possible tenants in the property.

Once the foreclosure is filed Homeowners generally receive several letters from lawyers and others offering various services.

The homeowner has 30 days to respond after being served with the foreclosure.

The  homeowner can, of course, file an answer denying various allegations  and/or raise affirmative defense, if any. Also, the homeowner can file  various forms of Discovery and/or Admissions. The Answer and Discovery  are best done by an experienced lawyer. When answers, affirmative  defenses, and discovery is filed the foreclosure process can be  dramatically slowed and frequently takes years to come to a conclusion.

If  the homeowner does not file any answer or otherwise plead the mortgage  company can proceed to a default judgment. If the homeowner filed an  answer but did not raise any issues, the mortgage company can proceed to  a summary judgment. Either way, the result is often a judgment of  foreclosure.

However, before a judgment can be entered the  mortgagee must show that they offered a meaningful assistance to the  homeowner. This is generally accomplished by appending to the law suit  help resources available. (In other words they avoid their  responsibility)

The judgment will include multiple charges  totaling at least $3,500. Since January 1, 2014, the judgment can also  include a deficiency clause meaning the homeowner would still owe money  after the house is sold if the auction price does not cover the full  amount owed.


The  next step is to schedule a judicial sale with at least 30 days’ notice.  Homeowners generally receive several letters from lawyers and others  offering various services, but time is running out.

After the  judicial sale the mortgage company must file a motion to confirm the  sale. Most frequently this is presented within a few days after the  sale. Once that is done the mortgage company or other successful bidder  now owns the house.

The new owner will then ask the prior homeowner to vacate the premises. Sometimes they will offer cash for the keys.

If  the prior homeowner does not move out a Forcible Detainer will be filed  which gives a certain amount of days to move or be evicted by the  sheriff.


You, the homeowner, have various rights. You should become aware of them and use them.

Generally,  folks cannot come up with a lump sum payment to fully catch up the  mortgage or offer a repayment plan acceptable to the mortgagee.

Probably the most effective way of saving one’s home is through a Chapter 13 Bankruptcy which allows a reasonable method of repaying the mortgage arrearage.  The time period can be as long as 60 months, and the plan often reduces  the payment to other debts.

A Chapter 13 can be filed any time  after a delinquency up to the day before the judicial sale: The sooner  the better when practical.

Also, if a Chapter 13 is not practical a  homeowner can defend the foreclosure by filing an Answer to the  complaint along with various forms of Discovery to be sure that the  amounts demanded are accurate.

Also you might wish to review: MONEY JUDGMENTS FOLLOWING FORECLOSURE:https://thebillslayer.com/money-judgments-following-foreclosure-illinois/

Our law firm has helped thousands of homeowners save their homes.

When  facing foreclosure please feel free to contact our office. We will be  happy to go over your options including foreclosure defense, Chapter 7,  or Chapter 13. Our advice is Complimentary and confidential.

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