Field Definitions for Foreclosures

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What is a Foreclosure

A foreclosure is the legal process by which a bank or lender sells or repossesses a piece of real property after the owner has failed to comply with an agreement between the borrower and the lender.

What is the typical foreclosure timeline in Illinois?

The timeline for foreclosure in Illinois is typically 9 months.

Field Definitions for Foreclosures

See a Sample Foreclosures Record

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