Foreclosure Overview

 The largest and most comprehensive
Illinois foreclosure
information and education website

The Illinois Foreclosure Process

How and where it starts...Where it ends 

A laymans explanation of the entire

 'mortgage' to 'foreclosure sale' process,

written in report format of our knowledge and experience.

The information on this website
is NOT a substitute for legal advise!

The following catagory reports are the opinion of the author,

who is neither an attorney nor an Accountant.

However, the author has helped hundreds of homeowners through the foreclosure process and has considerable exposure and experience with the process.

Any legal questions you may have

should be address by a licensed professional,

if you cannot afford an attorney,

you may contact the Illinois Bar Association for help in finding

 'Pro Bono' FREE legal services and information.

To fully understand why the IAFPP was created

and why we make this information available,

read the About Us areas.

To be in foreclosure,

you must first be a homeowner with a mortgage,

so let's start here with; 

What is a mortgage:

a mortgage is one of the documents you signed when you bought your home.  Actually you signed both a 'mortgage' and a 'promisory note'.   These two documents together control all the terms, conditions and rights to both you, the homeowner, and the lender...Read More

What is Foreclosure:

foreclosure is the method the lender, or holder of the note and mortgage, takes back the collateral used to secure the note and mortgage, usually the home...Read More

When does foreclosure start:

a foreclosure starts the very first day you miss a payment. However...Read More

Type of foreclosure used in Illinois:

Illinois foreclosure is predominently
'Judicial Foreclosure'...Read More

What is the Illinois Foreclosure Time Line:

The foreclosure time line is broken down into a detailed list of what will happen when...Read More 

Walk through the foreclosure process:

The foreclosure process is further detailed for each step...Read More

Received Summons ~ What Now?

This section explains the summons, what it is, your options,  and what to do after receiving it...Read More

Answering the Summons:

This report will detail how to answer the summons and keep your rights...Read More

Remedies  Solution Options for foreclosure:

Here you will find a detailed list of the remedies and solutions for foreclosure...Read More 

The Plan:

No matter what you do, you need to create a plan...Read More

The Pros and Cons of Attorney Representation:

We give our opinion of attorneys and our past experience of working with attorneys as well as some thought as to whether you need an attorney in this section...Read More

Loan Modifications:

Let's go into more detail and explanation of loan mods...Read More

Short Sales:

Let's go into more detail and explanation of short sales...Read More 

Foreclosure Scams:

Learn what is happening to some people so you can avoid these same traps...Read More

Affordability Worksheet:

This form will assist you in determining whether you can qualify for a work-out plan...Read More

Forms:

We have made these forms available to you so that they are at your fingertips...Read More

FHA Housing Counseling Agencies:

Are they working...Read More

Resources:

Helpful resources for all your needs...Read More

Questions To Ask:

We have supplied these questions so that you can be armed with them when someone approaches you to help you...Read More 

Do It Yourself:

Can YOU do it yourself...Read More

Glossary Of Terms:

We have supplied a comprehensive list of terms and phrases pertaining to real estate, financing, and foreclosure, along with the definitions of those words and phrases...Read More 

Legal Information
Is Not The Same as Legal Advice. 

Mortgage Foreclosure is a complex process. You are encouraged to become informed about your options in foreclosure before entering into any agreements with anyone in connection with the foreclosure of your home. There are government agencies and nonprofit organizations that you may contact for helpful information about the foreclosure process. Do not sign any important legal contract without first consulting with an attorney in your area. 

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