North Chicago foreclosure defense lawyerThe foreclosure process can be confusing and overwhelming for homeowners facing financial hardship. An Illinois attorney focused on real estate and foreclosure law can provide some guidance on the steps in the foreclosure process and your options as a homeowner.

Understanding the Foreclosure Timeline

The foreclosure timeline lays out the sequence of events from initial default on your mortgage through to a foreclosure auction of your home. This process is governed by Illinois law and real estate regulations. Some important milestones are the following:

  • Notice of default: The first step after you miss payments. The lender sends you written notice of intention to foreclose if you do not repay the owed amount. You typically have 30-90 days to respond before further action.
  • Filing of foreclosure case: If the default is not cured, the lender can file a foreclosure case in court outlining the missed payments and requesting permission to auction the home.