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  1. #1
    Join Date
    Mar 2009
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    2

    Question Foreclosure Sale and Eviction Timeline in Illinois

    My question involves a foreclosure in the State of: Illinois

    My condo was sold on March 11th, 2009 (it went back to bank).
    At the moment I can't afford to move and find a rent so I need to know how much time I have to save some money.

    - How long does it take for the sale to be confirmed. I heard that 3 weeks?

    - When does the bank file the eviction request with a court? Is it 30 days after the confirmation of the sale or on the same day when the sale is confirmed?

    - What is the minimum and maxium time I have before Sheriff comes to evict me?

    Thank you for your help.

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: Foreclosure Sale and Eviction Timeline in Illinois

    Quote Quoting Peterko
    View Post
    My question involves a foreclosure in the State of: Illinois

    My condo was sold on March 11th, 2009 (it went back to bank).
    At the moment I can't afford to move and find a rent so I need to know how much time I have to save some money.

    - How long does it take for the sale to be confirmed. I heard that 3 weeks?

    - When does the bank file the eviction request with a court? Is it 30 days after the confirmation of the sale or on the same day when the sale is confirmed?

    - What is the minimum and maxium time I have before Sheriff comes to evict me?

    Thank you for your help.
    In IL a foreclosure is judicial. The evicition is done at the same time as the foreclosure. Meaning the court issues a judgment of foreclousre and sale. The lender can take the judgment to the sheriff on or after the sale date.

    This is not like a landlord tenant evicition. They have you evicted right now. It is up to the lender as to how soon they want you to vacate. It could be tomorrow, it could be next month.

    If you have an FHA or VA loan it is usually very fast as the lender needs to have the house vacant so they can file their HUD or VA claim for full payment of the debt.

  3. #3
    Join Date
    Mar 2009
    Posts
    2

    Default Re: Foreclosure Sale and Eviction Timeline in Illinois

    Thank you for your answer.
    However, after doing some more research, I don't think everything you said is correct.

    I've found out this:
    The buyer/bank gets deed upon confirmation of sale (confirmation takes 2-3 weeks), and then takes possession 30 days thereafter unless otherwise ordered. (735 ILCS 5/15-1509, 15-1701(d))

    The mortgage company or new owner cannot file an eviction case against you until 30 days after the judge enters an order confirming the sale of the building.

    Here a whole foreclosure process in Illinois:

    * Default
    * Filing of Foreclosure
    * Personal Service of Summons
    * Foreclosure Judgment and Order of Sale
    * Reinstatement Period Expires (90 days after personal service)
    * Redemption Period Expires (7 months after personal service or 3 months after judgment, whichever is later)
    * Foreclosure Sale
    * Foreclosure Sale Confirmed
    * Right to Possession Expires (30 days after foreclosure sale confirmed)
    * Eviction by Sheriff of Named Parties
    * Recording of Foreclosure Deed

    Sources:
    http://www.illinoislegaladvocate.org...t&contentID=69
    http://www.illinoisprobono.org/index...&contentID=327

    Correct me if I'm wrong.

  4. #4
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: Foreclosure Sale and Eviction Timeline in Illinois

    Well there is this;

    http://stopforeclosure.com/Illinois_Foreclosure_Law.htm

    And this;

    http://www.mersinc.org/Foreclosures/index.aspx

    There is more but the point is;

    Any one part of a law can be used even if others do not apply. The choice is yours. Good luck.

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