FORECLOSURE PROCESS IN ILLINOIS
If you are struggling to make your monthly mortgage payments, don’t panic, Illinois is a judicial state where foreclosure process must be completed through the circuit or federal courts. Uncontested foreclosure can take as little as 12 months to be completed.
Mortgage payment past due
(date of first missed payment)
|30-60 days late||You miss your second payment. When your lender calls, it is important to pick up the phone and speak to your lender. Let your lender know why you can’t pay and when you may be able to pay in the future.|
|60-120 days late||You miss your third payment. Lender sends you a default notice that serves as notice of intent to foreclose and contacts its attorney to initiate foreclosure proceedings.|
|120-175 days late||You will be personally served with a summons by the sheriff or a process server. Avoiding answering the door will not help. If they are unable to serve you in person, a public listing in the newspaper will serve as your notice. You will have 30 days to reply.|
|60 days after being served||If you do not answer the summons, a default motion may be filed and a default judgment may be entered against you.|
|90 days after being served||Your right to reinstate your loan expires. (Reinstatement means paying your lender the total amount past due, including the monthly payments owed, late fees, court costs and attorney’s fees.)|
|7 mo. after being served or 3 mo. after judgment|
whichever is later
|Your right to redemption expires. (Redemption refers to your right to pay off your loan, usually through a sale of the house or refinance.) If you do not redeem (pay-off in full) your house will be sold at a sheriff’s foreclosure sale.|
|15 days after sale||Order confirming the sale of your property and order for possession is entered. Order for possession is stayed 30 days (giving you 30 days to move).|
|30 days after order of sale entered||Order of possession goes to sheriff. You may be forcibly evicted.|
Note: The above time frames are approximations. Your case could move more quickly or more slowly.