A mortgage foreclosure is a lawsuit to repossess your house.
IMPORTANT INFORMATION FOR DEFENDANTS
IN A RESIDENTIAL FORECLOSURE
(This information does not apply to a commercial foreclosure. Consult an attorney for advice.) _______________________________________________________
YOU HAVE RIGHTS DURING THE ILLINOIS FORECLOSURE PROCESS__________________________________________________________________
1.
POSSESSION: The lawful occupants may be able to live in the house
until a
judge enters an order of eviction.
2. OWNERSHIP:
You may have the right to sell the house or refinance the mortgage during
the redemption period.
3. REINSTATEMENT:
You may have the right to bring the mortgage current within
90 days after you receive this Summons.
4. REDEMPTION:
You may have the right to pay off the loan during the redemption period.
5. SURPLUS:
You have the right to petition for any excess money that results from
a foreclosure
sale of the house.
6. WORKOUT
OPTIONS: The mortgage company does not want to foreclose the mortgage if
there is a way to avoid it. Call the mortgage company or it's attorneys
to find out the alternatives to foreclosure.
7. GET
ADVICE: This information is not exhaustive and does not replace
the advice
of a professional. You may have other options. Get professional advice
from a
lawyer or certified housing counselor about your rights and options
to avoid foreclosure.
8. A
LAWYER: If you do not have a lawyer, and are able to afford one,
you may call
one of the following Lawyer Referral Services and ask them to recommend
a
lawyer for you.
a. Chicago Bar Association Lawyer Referral Service: (312)
554-2001
b. Cook County Bar Association Lawyer Referral Service:
(312) 630-1157
c. Other Lawyer Referral Services are listed in your
telephone directory.
If you cannot afford a lawyer, you may call one of the following
agencies that may
be able to provide you with legal help:
a. *Legal Assistance Foundation of Chicago: (312) 341-1070
b.
Horizon Legal Center: (312) 360-9455
c.
*Chicago Legal Clinic: (312) 731-1762
d.
*Chicago Volunteer Legal Services: (312) 332-1624
(*
se habla Espanol)
PROCEED WITH CAUTION
You may be contacted by people offering to help
you to avoid foreclosure.
Please follow these precautions:
(i)
Get legal advice before entering into any deal involving
your house.
(ii)
Get legal advice before you pay money to any person offering to
help you avoid foreclosure.
(iii)
Do not sign any papers you do not understand.
The above information provided by the Clerk of the Circuit Court of Cook County, Illinois