How Long It Takes for an Illinois Residential Foreclosure

This is the most commonly asked question. Often Clients are overcome by fear. Instead of searching for solutions they are so paralyzed by fear that all they want to know is how long they have until they will be evicted from their home. Each case is different but there is a general timeline.

Who can tell me how long it will be before I have to leave my house once I miss my first payment to the Lender?

No one can tell you exactly how long you have to stay in your house. No two situations are identical. The time may be as little as 6 to 8 months and as long as 24 months to as long as you want (if you Reinstate), depending on variables that are too many to list.

What are some of the variables that will influence the timeline?

To name a few of the many variables, it would depend on whose your Bank, is your Bank still in operation, does the Bank still own your loan, who is the Bank’s Attorneys, what are the terms of your mortgage, will you put up a defense to the Foreclosure Proceedings, what strategy you will take with the defense, and on and on. The Attorney for your Bank will work diligently to move the process forward so that the Bank will be made whole through a sale of the property. The law sets forth a number of time constraints that the Bank must observe.

What are some actions that the Attorneys can do for me that I may not be able to do for myself?

There are actions which you may take on your own or with the help of others that will delay, accelerate or resolve the process. An experienced Attorney are versed with the Illinois Mortgage Foreclosure Act, and the Foreclosure Process in Illinois. Attorneys will be able to give you an accurate estimate as to what time is left to find a solution. Qualified Attorneys will be able to file an appearance, answer and counterclaim against the Bank (Defend Your Rights) on your behalf and attend all court proceedings. The research that is involved in putting together a proper foreclosure defense are beyond the reach of most Attorneys and likely beyond the skills of most Clients.