Posted on: 20th Nov, 2010 11:50 am
all my debts were disharged in chapter7 including my mortgage in october 2009...i continued paying my mortgage until i lost my job in april of 2010, since then i have not made any payments while trying to modify my loan but was repeatedly turned down due to lack of employment...now that the lender has initiated foreclosure on my property..my question is that whether the law will permit me to reedem my house after foreclosure judgement is entered and how much time will be granted in accordance with state of Illinois laws ?
your response will be highly appriciated!!!
your response will be highly appriciated!!!
Welcome ghausraffi,
As far as I know, Illinois state laws does not offer redemption period to the borrowers. Thus, once the property is sold off by the lender, you won't be able to get it back.
As far as I know, Illinois state laws does not offer redemption period to the borrowers. Thus, once the property is sold off by the lender, you won't be able to get it back.