Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Phone and Video Consultations
Available Today!

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Foreclosures in Chicago

All foreclosures in the state of Illinois are judicial, meaning that it is the role of the court to complete the foreclosure process.

The process begins with a judgment of foreclosure, which can be obtained in as little as 90 days. However, the homeowner has a 90-day reinstatement period, which prevents the courts from making any rulings on a property until that time is up. The court also has the power to extend the period of redemption as it sees fit.

It is up to the lender to ensure that there are no senior liens on the property before foreclosing on it. They must also list any junior lien holders on a foreclosure proceeding when presenting it to the court. Once the borrower has gone into a period of default, the lender has the right to file a Complaint to Foreclose Mortgage. It is then served to all of the lenders listed on the mortgage; if that person cannot physically be located, the notice of foreclosure will be printed in a local publication.

While the homeowner has a 90-day redemption period during which he can speak with the courts, this period can also be shortened if the property is found to be abandoned.

If you would like to prevent foreclosure on your home, contact our law firm today to set up your consultation with an understanding Chicago bankruptcy attorney.
Categories: Bankruptcy, Foreclosure
Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100