Illinois Foreclosure Laws

[edit] Attorney General’s Office

500 S. Second Street

Springfield, IL 62706

Ph: (217) 782-1090

Fax: (217) 782-7046

First Legal Action: Complaint

Time Frame from 1st Legal Action to Action: 7-13 Months

Final Legal Action: Order Approving Sale

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: No

Method Primarily Used: Judicial

Security Instruments: Mortgage

Right to Redemption*: Yes; Limited

Deficiency Judgments Allowed: Yes

Foreclosure Postponement Available: Yes, Up to 60-days any longer requires re-publication.

Super Lien State:

Certified Breach Letter State: No

Lender Retains Copy of the Breach Letter: No

Eligible for Tax Advance Repayment Plans: Yes

Statutory State: No

*A borrower’s right to repurchase property lost in foreclosure sale.

** A judgment against ones person making the borrower responsible for the remaining balance on the loan after a foreclosure/sheriff sale.