Illinois Foreclosure Process

You are at a great disadvantage when it comes to foreclosure; the laws are stacked against you. Most people know that, so they assume that hiring a foreclosure defense attorney will be a waste of time and money. This honestly could not be further from the truth. Hiring a foreclosure defense lawyer will greatly increase the odds of a successful solution being reached in your foreclosure case. At the very least, it will buy you a significant amount of time to work on a preferred solution with the lender. You should work with a foreclosure lawyer even if you want to leave your house because the bank may come after you for a deficiency (amount due after sale of your property) after the sale of your home. If that sounds like you, we will help you walk away without a deficiency lawsuit hanging over your head. However, if you want to challenge your lender, the attorneys at JRQ & Associates will aggressively fight the lawsuit to stop foreclosure and save your home.

For informative purposes only, we have outlined an uncontested foreclosure timeline for a borrower that resides at a property in Cook County.

  • Demand letter is sent to the property. The lender must wait 30 days to start the judicial foreclosure period at this time.
  • Lawsuit is filed in Court. Each county has a different process, but Cook County sets a case management hearing 60 days out at this point. Judgment may not be taken until this hearing has been held.
  • After the hearing, the lender will move to default and enter judgment against the borrower. The sale cannot be set until the redemption period has expired (7 months from the day the borrower was served with the lawsuit) or 3 months after the judgment was entered, whichever is later.
  • The lender is then required to publish the sale information for 3 weeks. The property may not be sold until this requirement is met.
  • The property is sold at a judicial sale.
  • The lender must then set a confirmation of sale hearing in which the Judge approves the sale. You will have 30 days from this hearing to vacate the property

As stated, the above timeline applies to borrowers that live at a property located in Cook County. Each county has different requirements, but the timeline is roughly the same throughout the State of Illinois. The bottom line is that a well-oiled creditor law firm may have you out of the property in 9-12 months if you do not contest the lawsuit. An experienced foreclosure defense attorney at JRQ & Associates will thoroughly review your case and advise you of your options. We offer a free, no obligation, consultation with one of our foreclosure defense lawyers to discuss your situation and figure out the best course of action. Don’t sit back and let your lender win; stop foreclosure and save your home.

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