Legal Question in Real Estate Law in Illinois

Re: foreclosure sale

Unless there was a sale, the bank doesn't "own the property", you do. When a bank has a mortgage, they don't own the property, they have what's known as an equitable interest or title, not a legal one. So if you own the property, anyone on your property is trespassing. It seems to me what happened is that the bank bought the property back at the sale without you realizing it since there were no other bids. That's the only way the bank could "own" the property. Maybe you could take a look at the court file or call the court house and see what the last order entered in your case said. If it's an order confirming the sale, then the bank does indeed own the house and would be entitled to possesssion probably 30 days after the confirmation order was entered. You may have a last-ditch possibility of vacating the confirmation order, but it's very rare that a judge will do that.