Illinois is a judicial foreclosure state — lenders must go through Cook County Circuit Court. Chicago homeowners have strong protections including mandatory mediation and the Illinois Homeowner Protection Act. Dream Financial Management helps Chicago homeowners since 1994.
Fill out the form below and we'll contact you within 24 hours.
Illinois's judicial process and Cook County's mandatory mediation program give Chicago homeowners powerful leverage to save their homes.
Lender must file lawsuit in Cook County Circuit Court
Typical IL judicial foreclosure timeline
IL redemption period after judgment (owner-occupied)
Requires lenders to provide loss mitigation review before foreclosure. Prohibits dual tracking. Gives borrowers 30 days to submit complete loan modification applications before foreclosure can proceed.
Mandatory mediation for owner-occupied residential foreclosures in Cook County. A neutral mediator helps negotiate between you and the lender. Many cases result in loan modifications or alternatives to foreclosure.
After a foreclosure judgment, Illinois gives owner-occupants 90 days to redeem (pay off the full amount and keep the home). This is your last chance to save the property before the sale.
Use the Homeowner Protection Act's 30-day window to submit a complete modification application.
Engage with Cook County's mandatory mediation program to negotiate directly with your lender.
Use the 90-day redemption period after judgment to pay off and keep your home.
With Chicago's stable housing market, a short sale can protect your credit and avoid a judgment.