Legal Question in Real Estate Law in Illinois
Foreclosure
I have my house up for sale but I highly doubt it is going to sell. How long do I have to live in the house once the foreclosure process begins? Also, how long does the foreclosure process take in Illinois.
2 Answers from Attorneys
Re: Foreclosure
Case length can vary - I've seen cases finish in as little as 3 months. Try and work out something with the bank - they will usually try to accommodate as it is costly for them to pursue a foreclosure - you'd be surprised how much they may help.
Re: Foreclosure
You have to miss two payments before your mortgage can be foreclosed.
It takes about seven months from the time the complaint is filed to the time the judicial sale is held.
You have at least 30 days after the sale is held until there is an eviction.
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