Legal Question in Credit and Debt Law in Illinois

If the credit card company obtains a judgment against you, they can record a memorandum of judgment in the recorder's office. This would constitute a lien against any real estate you own in that county. They would not lien your mortgage. Whether they would foreclose their judgment lien would depend on how much you owe on the credit card and how much you owe on the mortgage. For a couple of examples, if your house is worth $100,000, and you owe $98,000 on your mortgage, and your credit card judgment is $2,000, it is doubtful the credit card company would foreclose. If your house is worth $100,000, and you owe $10,000 on your mortgage, and your credit card judgment is $20,000, it is more likely the credit card company would foreclose.