foreclosure Timeline in cook county, Illinois
How long does a foreclosure case take?
1-4 missed mortgage payments
START OF foreclosure
Once you fall behind on your mortgage payments, the bank will file a foreclosure lawsuit in court.
You'll know when this happens because you'll be served with a copy of the lawsuit (the Complaint) and Summons (a document that tells you when and where to come to court). You will also start to receive a lot of mail and solicitations related to your foreclosure -- watch out for the scams! Be wary of anyone that guarantees to save your home or asks for a large up front fee.
YOUR RESPONSE TO FORECLOSURE
You will have 30 days from the time you receive the Summons to file your response (Appearance and Answer) to the foreclosure lawsuit.
The bank will file Judgment Motions asking the judge to make a ruling in its favor. You will receive a notice of the court date on the bank's Judgment Motions. If you do nothing, the judge will rule in the bank's favor. You will still have a 90 day redemption period to either sell the property or work out a modification with the bank.
court order directing sale of property
Once the 90 day redemption period expires, the judge will allow the bank to sell the property at an auction.
foreclosure case finished
The judge has to approve the foreclosure sale/auction of the property and enter an order of eviction. The foreclosure case is now complete.
*approximate timeline based on typical foreclosure case without a defense strategy
The foreclosure process can take more or less time, depending on the facts of your case and defense strategy. Call us now and speak with a foreclosure expert on how you can make the foreclosure timeline work for you -- not against you. 312-600-8815