Chicago Foreclosure Lawyer Explains – 7 Steps to Illinois Mortgage Foreclosure Law

2023 Foreclosure Filings Timeline by Chicago Foreclosure Attorney

Foreclosure can be a daunting and stressful process for any homeowner, and understanding the timeline and key milestones can help you navigate this challenging situation more effectively. In Chicago, the foreclosure process is primarily judicial, meaning it involves the court system and follows a specific timeline with various stages. In this article, we will discuss the critical steps and deadlines in the Chicago mortgage foreclosure timeline to help homeowners gain a better understanding of the process and the options available to them.

What is Mortgage Deferral?

mortgage spelled with scrabble tiles on wood

For many landlords, the hot topic around the country is the idea of mortgage deferral. While tenants are concerned with a rent freeze or rent forgiveness, property owners have occupied themselves with avoiding foreclosure. In the USA, 62% of homeowners have a mortgage, and the median payment is $1,100. For most of us, the $1,200 […]