Once a foreclosure law suit has been filed against you and your home you have right to participate in it. It is a lawsuit, and you have the right to defend yourself.
You will know that the foreclosure lawsuit was filed against you and/or your your property once a deputy sheriff or private investigator serves you with paperwork (Summons and Complaint)
It will state in your complaint that you are required to file in court your Answer and Appearance within 30 days or you will be subject to a Default Judgement against you and your home.
Beginning with the date you are served with the case, there is a 30 day wait for you to file your answer and appearance.
On day 31, the bank's lawyer can make a motion for default judgment against you, so that within a week, on about day 38 after you were served, you can have a default judgment against you.
Then, two months after that, your redemption period can end, and there can be a sheriff's sale of you home. So that is another 61 days, so a total of almost exactly 100 days from the date you are served until the date of the Sheriff's sale.
Then after the sheriff's sale, there should be at least one more week before the sale of the house is confirmed by the court.
If the bank's lawyer claims that your house is vacant or abandoned, then the court can grant immediate possession to the bank.
So the fastest that you can lose your home after you are served with the foreclosure case is about 107 days. It is possible to shorten this a bit, but not likely.
Learn MORE about Foreclosure Time Line here Steps of Foreclosure
With the help of a foreclosure attorney, ten years in foreclosure is the best that we have heard of, and sometimes cases go for a couple of years. Most cases go for about seven months after the date you are served with the case, before the sheriff's sale of the house occurs. Sometimes, also with the help of a foreclosure lawyer, the case gets dropped altogether. We have some people who are living in houses that were in foreclosure, but after using us as their foreclosure attorneys, their case was dropped, and they are now living without making payments, more than a year after the case was filed, and no foreclosure in sight.
What can foreclosure attorneys do for you under Illinois foreclosure law?
As a foreclosure Attorney, I do primarily one thing - I maximize your financial position throughout the foreclosure process. In other words, I help you to come out of the process with the maximum amount of money possible, the best credit possible, a free modification of your mortgage if you want it.
You must know what you want, and I help you to get it.
As your foreclosure lawyer, with a wife who is a Keller Williams Realtor, we are able to combine the tools of our trades to shift the cost of the foreclosure to the bank in most cases.
Any foreclosure attorney can help you to fight your foreclosure case. Fighting the foreclosure case directly however, is only one of the tools which we use to help you financially.
A good defense of your case should include some financial benefit to you, rather than the case defense being just another financial burden for you.
Illinois Foreclosure Law
Illinois foreclosure law consists of hundreds of large pages of very small printing, for both the federal laws and the state laws.
Illinois foreclosure law also consists of cases which have been decided by the courts in Illinois, and in the federal courts.
Also, Illinois foreclosure law is influenced somewhat by decisions in other states. Plus, Illinois foreclosure law is governed by the hundreds and thousands of pages of statutes and decided cases which govern the civil procedure laws to be followed in every lawsuit.
There are laws which govern appeals, and which are also relevant to Illinois foreclosure law. Usually, when someone wants to know about Illinois foreclosure law, they have a specific question in mind about what the general time-line is, or about what is the best or the worst that can happen in their specific case.
I am offering FREE consultation to answer your specific questions or concerns about your specific case.
Also please understand that Illinois foreclosure law changes constantly right now.
The statutes that govern Illinois foreclosure law are subject to change at any moment. Also, the way in which the attorneys for the banks approach the Illinois foreclosure laws, as well as the way in which the foreclosure defense lawyers approach the cases, tends to evolve with time, even if the Illinois foreclosure laws themselves do not change.