Unfortunately, Illinois foreclosures are on the upswing, with the state now having the ninth-highest home foreclosure rates in the nation. About one out of every 3,753 homeowners in the state now faces foreclosure actions, and there are few signs that these actions will slow down in the coming months.
If you have been unable to make your monthly mortgage payments due to unforeseen circumstances, you are likely very anxious about whether you will be forced to leave your home. Many people in this situation simply choose not to think about potential foreclosure because it is too frightening. They hold onto hope that “something” will change, allowing them to catch up on their mortgage payments.