Illinois Foreclosure LawFacts: Judicial Foreclosure Available: Yes Non-Judicial Foreclosure Available: No Primary Security Instruments: Mortgage Timeline: Approximately 210 Right of Redemption: Yes, limited Deficiency Judgments Allowed: Varies Quick Summary: In Illinois, lenders may foreclose on mortgages in default using a judicial process only.
The foreclosure timeline in Illinois is approximately 210 days from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.
Illinois borrowers have a limited right of redemption and are allowed deficiency judgments on a case by case basis.
For more information on Illinois Foreclsoure laws and regulations visit http://www.ncsl.org/public/leglinks.cfm and click on your state. Or Contact: Illinois's Attorney General's Office
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