Illinois Foreclosure Law

ILLINOIS MORTGAGE FORECLOSURE LAW

ARTICLE XV. MORTGAGE FORECLOSURE
PART 1. IN GENERAL

5/15-101 to 5/15-117. 15-101 to 15-117. Repealed by P.A. 84-1462, 7, eff. July 1, 1987

PART 2. JUDGMENT ON MOTION

5/15-201. 15-201. Repealed by P.A. 84-1462, 7, eff. July 1, 1987

PART 3. POSSESSION OF REALTY AFTER DEFAULT

5/15-301 to 5/15-311. 15-301 to 15-311. Repealed by P.A. 84-1462, 7, eff. July 1, 1987

PART 11. GENERAL PROVISIONS

5/15-1101. Title
5/15-1102. Enforcement
5/15-1103. Jurisdiction
5/15-1104. Wrongful inducement of abandonment
5/15-1105. Interpretation
5/15-1106. Applicability of Article
5/15-1107. Mode of procedure

PART 12. DEFINITIONS

5/15-1201. Agricultural real estate
5/15-1202. Collateral assignment of beneficial interest
5/15-1203. Foreclosure
5/15-1204. Guarantor
5/15-1205. Land trust
5/15-1206. Mechanics' lien
5/15-1207. Mortgage
5/15-1208. Mortgagee
5/15-1209. Mortgagor
5/15-1210. Non-record claimant
5/15-1211. Notice of foreclosure
5/15-1212. Owner of redemption
5/15-1213. Real estate
5/15-1214. Real estate installment contract
5/15-1215. Receiver
5/15-1216. Recorder
5/15-1217. Recording of instruments
5/15-1218. Recorded notice
5/15-1219. Residential real estate
5/15-1220. Statutory judgment rate
5/15-1221. Unknown owner
5/15-1222. Acts referred to in this Article
5/15-1223. Occupant

PART 13. MORTGAGE LIEN PRIORITIES

5/15-1301. Lien created
5/15-1302. Certain future advances

PART 14. METHODS OF TERMINATING MORTGAGOR'S INTEREST IN REAL ESTATE

5/15-1401. Deed in lieu of foreclosure
5/15-1402. Consent foreclosure
5/15-1403. Common law strict foreclosure
5/15-1404. Judicial foreclosure
5/15-1405. Power of sale

PART 15. JUDICIAL FORECLOSURE PROCEDURE

5/15-1501. Parties
5/15-1502. Non-record claimants
5/15-1503. Notice of foreclosure
5/15-1504. Pleadings and service
5/15-1505. Real estate subject to senior liens
5/15-1506. Judgment
5/15-1507. Judicial sale
5/15-1508. Report of sale and confirmation of sale
5/15-1509. Transfer of title and title acquired
5/15-1510. Attorneys' fees and costs by written agreement
5/15-1511. Deficiency
5/15-1512. Application of proceeds of sale and surplus

PART 16. REINSTATEMENT AND REDEMPTION

5/15-1601. Waiver of rights of reinstatement and redemption
5/15-1602. Reinstatement
5/15-1603. Redemption
5/15-1604. Special right to redeem
5/15-1605. Equitable right of redemption

PART 17. POSSESSION DURING FORECLOSURE

5/15-1701. Right to possession
5/15-1701. Right to possession
5/15-1702. Specific rules of possession
5/15-1703. Mortgagee in possession
5/15-1704. Receivers
5/15-1705. Bond
5/15-1706. Possession

DISCLAIMER

THE DATA CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSE ONLY. THE ACCURACY OF THE DATA CONTAINED HEREIN IS DEEMED RELIABLE, BUT IS NOT GUARANTIED. MAJOR ENTERPRISES, INC. IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR ANY OTHER PROFESSIONAL ADVICE, AND SUGGESTS THAT THE SERVICES OF A PROFESSIONAL IN THESE FIELDS SHOULD BE SOUGHT. ANY LIABILITY, LOSS, OR RISK, PERSONAL OR OTHERWISE INCURRED AS A RESULT OF USING ANY OF THE FORMS ATTACHED HEREIN IS NOT THE RESPONSIBILITY OF THE REALTOR’S TITLE CORPORATION.