Illinois Sample Letter to Foreclosure Attorney - After Foreclosure - Did not Receive Notice
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FAQ
Reinstatement. You have 90 days from the date you are served to reinstate the loan, that is, to bring your loan current and pay off what you owe (past due payments, late fees, costs and fees paid by the lender to foreclose, and other allowable expenses).
In Illinois, it can take approximately 12-15 months for a foreclosure to be completed. Call your lender or a HUD-certified counseling agency as soon as you can.
In Illinois, it can take approximately 12-15 months for a foreclosure to be completed. Call your lender or a HUD-certified counseling agency as soon as you can.
The redemption period also runs for 3 months after a foreclosure judgment is entered, so, depending on when a judgment is entered, the redemption period can run longer than 7 months from service.
30 days after the confirmation of the foreclosure sale (see #8), the purchaser of the property has the right to take possession of the property and evict the tenants.
In Illinois, you can redeem your home until the later of: seven months after you receive the summons of the foreclosure action (or are served by publication if the lender is unable to serve you the foreclosure papers personally) or. three months after the date that the court enters the judgment of foreclosure. (735 Ill ...
In Illinois, your mortgage loan will automatically default after 90 days without payment. At this point, your lender will send a Notice of Default (NOD), which serves the purpose of informing you of their intent to foreclose on your property due to lack of payment.
After commencement of a foreclosure proceeding under this Article a mortgagor of residential real estate or other mortgagor who is otherwise so prohibited may waive the mortgagor's rights of reinstatement and redemption, or either of them, if (i) the mortgagor expressly consents in writing to the entry of a judgment ...
