Foreclosure & Alternatives Law

How Can a Lender Foreclose on a Property in Illinois?

All foreclosures of Illinois property occur through the judicial system. A lender must sue a borrower in state circuit court in order to foreclose on a property when a loan is in default. The court can order that a foreclosure sale occur or the borrower can offer a deed in lieu of foreclosure where the property is deeded back to the lender without a foreclosure sale occurring.