Legal Question in Real Estate Law in Illinois

Re: How long after Sherriff's Sale?

The creditor will pursue a judgment for deficiency at the same time that they confirm the sale, however, it will probably be 30 days before they pursue collection because if the bank was the one to buy the house at the sale, you get a special 30 day redemption period t redeem the property.

You will only be put in jail if you ignore all collection attempts and you are served with a Rule to Show Cause (usually for failure to appear at a Citation to Discover Assets hearing) and still don't show up for court. If that happens a warrant with a bond amount would be issued and you would only be in jail until you pay the bond amount.

Re: How long after Sherriff's Sale?

My experience is that the banks rarely try to collect the deficiency judgments, especially in Cook County.