Chicago Illinois Foreclosure Help, Defense, Laws and Process


In the city of Chicago, only judicial foreclosure is allowed. A judicial foreclosure can take anywhere from 7 to 9 months. A mortgage is made as a primary security instrument. Let’s go through the process involved in Chicago foreclosure.

Chicago Illinois Foreclosure Process

  • Foreclosure process is initiated when the lender contracts with a foreclosure attorney in Chicago.
  • The associated files are given to the attorney, so that the attorney can tack on their fees and they begin the process of contacting the court as per the Chicago foreclosure law protocol.
  • Then a report is made, which include all the details about the property. This report is called title report. A title report usually covers the name of the title holder, how title is held, the property description, tax ID, mortgages and property tax due for pay. An abstract of the entire history of the product is made.
  • Then a complaint is filed according to the protocol of Chicago judiciary system
  • The court with the jurisdiction over foreclosure is called the Circuit Court. In Chicago the circuit division is again divided by country, and the Chancery Division handles foreclosures.
  • The complaint is filed in Circuit Court along with a lis pendens, which is a record document that notifies the publically that the property is being foreclosed.
  • The lender has to issue a notice to the borrower at least 30 days before the court judgment of foreclosure.
  • If a home owner failed to appear in front of the court, judgment is entered in favor of the mortgage company.
  • Once the court rules in favor of the lender, they have to publish the sales notice in legal and real estate section of the news paper once in a week for 3 weeks prior to the sale.
  • The sale is conducted in the presence of a sheriff or a judge with in the country.
  • There is a Deed in Lieu of foreclosure, by means of which the borrower can settle his deeds with the borrower to terminate the foreclosure procedure.
  • Once the lender accepts the deed, no more deficiency judgment can be filed against the borrower.
  • If the borrower fails to do so, the property will be sold as a part of publicly noticed sale.
  • The borrower does not have the right for redemption, once the property is sold

The whole process usually takes 7-9 months to complete. If the borrower files for bankruptcy, it can be delayed even up to 2 years. A deficiency judgment can be filed, when a property in foreclosure is sold at a public sale for an amount less than the due loan. This means the borrower still owes the lender the difference in amount. Deficiency judgment is not permitted in the case of Deed in lieu of foreclosure. Section 735 ILCS 5/Art XV govern the Chicago foreclosure law. To know more about the current status of Chicago foreclosure, you can visit the Chicago General Assembly site,