Illinois foreclosure timeline

Illinois Foreclosure Process Explained | Mortgage Foreclosure Timeline

Video by Attorney Kevin O'Flaherty
Article written by Illinois & Iowa Attorney Kevin O'Flaherty
Updated on
November 1, 2019

If the bank holding your mortgage has filed a foreclosure action against you and received a judgment of foreclosure from the Court, you will still have a significant amount of time in your home before you are required to vacate the premises.

The borrower has 90 days after the date of judgment to redeem the property.  In order to redeem, you must pay all amounts due and owing to the bank.  A sale on the property cannot take place until after the redemption period.  After the redemption period has expired and proper notice has been given by the bank, the property can be sold.  This is usually done by the Sheriff.

Following the sale, the Sheriff or selling officer must make a Report of Sale within 10 days.  After the Sheriff confirms the sale, the bank will be required to file a motion to confirm the sale with the court.  The motion cannot be heard less than 5 business days after the Report of Sale, but is usually heard 21 to 30 days after the sale.   If the court confirms the sale, you will then have 30 days to vacate the property.  If you do not do so at that time the bank can ask the sheriff to have you removed.For your reference, the statute governing the post-judgment foreclosure process is 735 ILCS 5/12-1508.

Additional Financial Considerations
from Financial Experts

From Financial Experts

For many years, financial institutions have been creating a disservice to clients and the industry as a whole for years.
View More Professional Considerations

Presented By O'Flaherty Law

home foreclosure process in Illinois

Need Legal Help? 

Schedule a
Consultation

What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Leave a Comment With Your Questions

Read more about

Bankruptcy & Debt Resolution

Right now this is our only article. Don't worry we will be writing more soon!

Illinois foreclosure timelineIllinois Legal ArticlesIowa Legal ArticlesMulti-State Legal ArticlesLearn About Law Home

Bankruptcy & Debt Resolution

Bankruptcy & Debt Resolution

Bankruptcy & Debt Resolution

No items found.

Bankruptcy & Debt Resolution

Disclaimer: Our articles and comment responses do not constitute legal advice and are not intended to create an attorney-client relationship.

Please contact us to schedule a free consultation for legal advice specific to your situation.

Here are some articles that may interest you

Contact us for a Free Consultation

Schedule a free consultation

O'Flaherty Law is happy to meet with you by phone or at our office locations in:

Who We Are
We are your community law firm. Our Illinois & Iowa Attorneys are committed to providing exceptional client service in a cost-effective manner in the areas of Family Law, Probate, Estate Planning, Civil Litigation, Guardianship, Criminal Defense, Corporate & Contract Law, Bankruptcy and Real Estate.

Some of Our Accomplishments

Best Child Support Lawyers in Chicago
DuPage County Probate Attorney
Kevin P. O'Flaherty
Rated by Super Lawyers


loading ...
Naperville attorney
DuPage County Probate Attorney
Business Articles & Podcasts

Subscribe to our mailing list

* indicates required