Foreclosure Law In Illinois
February 23rd, 2008
Foreclosure Law In Illinois
Question: illinois foreclosure question bk7?
my moms landlord filed for BK7 (sept 1). i always pay 3 months advance, i do not want my mom to get dupe as she lives on ss and my brother and i splits the rent. the landlord said the house will not be foreclosed for another 7 months. he also added that this is the minimum amount of time provided for him according to illinois law. how true is this?
P.S. yes, i am already looking for a new place for my mom. i just want to know if my mom really has seven months.
Thanks in advance
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Answer: Illinois is a judicial foreclosure state. The foreclosure procedure in Illinois normally take approximately 7 months as indicated by the landlord or some where around 120 days.
If the landlord file for bankruptcy chapter 7 or 11 this procedure could be drawn out for a longer period of time.
I hope this has been of some benefit to you,good luck.
"FIGHT ON"
illinois bankruptcy fraud cover-up
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