Illinois
Illinois Mortgage Foreclosure Law, 735 ILCS 5/15-1101. Judicial foreclosure state.
Judicial Type
Judicial
Redemption
90 days after judgment for most residential property (735 IL
Deficiency
Lender may pursue deficiency. Court enters deficiency judgme
Mediation
Illinois has foreclosure mediation programs in some counties
Statute Citation
735 ILCS 5/15-1101 to 5/15-1706
Redemption Period
90 days after judgment for most residential property (735 ILCS 5/15-1603). 30 days if the court finds the value of the property is less than 90% of the debt and the borrower does not intend to exercise redemption rights.
Deficiency Judgment Rule
Lender may pursue deficiency. Court enters deficiency judgment as part of the foreclosure judgment. Fair value limitation: the court must consider the fair market value in determining deficiency amount.
Notice Requirements
Service of summons and complaint personally or by publication. Notice of sheriff sale published and posted. Illinois has strict procedural requirements — improper service supports motions to quash.
Mediation Program
Illinois has foreclosure mediation programs in some counties (Cook County's program is one of the largest in the nation).
Key Provisions
- All foreclosures are judicial under the Illinois Mortgage Foreclosure Law (IMFL)
- Board complaint must include copy of the note and mortgage
- Standing is strictly required — plaintiff must own the note
- 90-day redemption period from date of foreclosure judgment
- Borrower may answer and assert affirmative defenses within 30 days of service
Homeowner Protections
- Judicial process with full court oversight
- 90-day post-judgment redemption period
- Robust standing requirements
- Foreclosure mediation programs in major counties
- Borrower may assert all affirmative defenses including TILA, RESPA, FDCPA violations
Frequently Asked Questions
How long is the Illinois foreclosure process?+
Can I stop the foreclosure by selling my home during the redemption period?+
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