What is a Power of Sale Clause?

A power of sale clause is a provision in a mortgage or deed of trust that gives the lender the authority to sell the property without court supervision if the borrower defaults on the loan. This clause allows for a non-judicial foreclosure, meaning the lender can bypass the court system and directly auction off the property to recover the owed debt.

Are Power of Sale Clauses Allowed in Illinois?

In the state of Illinois, non-judicial foreclosures, including those utilizing a power of sale clause, are generally not allowed. Illinois requires judicial foreclosures, which means that the foreclosure process must go through the court system. This provides borrowers with more protection and due process, ensuring that they have the opportunity to contest the foreclosure in court.

At The Law Center, we are a team of specialists that are passionate and up to date about the foreclosure process from start to finish and helping homeowners and commerical property owners at the highest level. Our staff and attorneys approach each client and each property as a new challenge, one that requires thorough analysis, zealous representation, and thoughtful strategy. It’s your home, let The Law Center help you defend it.

Call us now and speak with a foreclosure expert on how you can make the foreclosure process work for you -- not against you. (312) 600-8815

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