Foreclosure notice of default in Illinois– what is that?


Have you been served a Foreclosure Notice of Default and you are completely clueless on what’s going on?

Have you ever had it served to you by mortgage companies/lenders and went through the proceedings without adequate knowledge about what’s wrong and how to go about it?

Well, you’ve come to the right place! This article tells you exactly what Foreclosure Notice of Default is, and the steps you can take when served such by mortgage companies or lenders.



live in Chicago and get a foreclosure notice of default?

What the heck is foreclosure notice of default?

Foreclosure Notice of Default is a notice served by mortgage companies/lenders to homeowners when they are long overdue in payments.

That is, if the homeowners do not pay the indebted dues, including the cost incurred for processing the legal papers for the default within a period of time, the mortgage company is backed by law to carry on with their foreclosure proceedings. The issuance of Notice of Default is usually when homeowners are 30-45 days past their dues payment (know the timeline varies depending on the law of the state).




The Foreclosure Notice of Default must be served to everyone who has anything to do with the property. From the homeowners, to the contractors who have got unpaid dues for working on the property, lenders etc. The notice also serves as an important part of the foreclosure process in getting those who are interested in the property to make claims.

Although it might look really bad to the homeowners, but in some way it is better than being slammed with foreclosure without an afore­-warning. So mortgage companies do well in publishing in newspapers and in prominent places on the property.

All right! I have been served a Foreclosure Notice of Default, what can I do? Here are the few key STEPS you should take when served such notice.


This may sound too candid, but who else will tell you the truth? Yes! This goes against the nature of humans, but in this kind of situation, you have to calm down and sink in the present situation. Make a good evaluation of the situation, gather your supporting documents because you really need them (Trust me on this!). Panic leads to bad decisions, so stay cool.



The next line of action is to call your attorneys. Get yourself abreast of the foreclosure proceedings present in your state. Know that there are two types of foreclosure proceedings; Judicial and Non-judicial foreclosures. In Judicial foreclosures, the lender files a lawsuit to obtain the permission from court to sell the property. This usually takes place when the homeowner is not forthcoming after 90 days. While in non-judicial foreclosure, the proceedings take course by following the procedures stated in the mortgage (or deed of trust), allowing the mortgage companies/trustee to carry on with the foreclosure and sell the property.



Information is very vital during this period, so do well and get across to non-profit and governmental resources available. You’ll want good legal advice from resources like BALANCE, MEDA, SFHDC, so they’ll help you a long way with the process. This is super complicated, so you’ll need all the help you can get. Also, do well and get across to those who have experienced such foreclosure. You don’t know, it might prove really helpful.



Here at Houseo, our main aim is to help you avoid foreclosures. We can help you with short sales, and even rent back situations. We buy houses with cash so you may retain your property. what are you waiting for? Contact us with the details below! There are so many options to consider. Only if you explore them.



Know that lenders resort to foreclosure as the last way to get payments. Most times them don’t want to foreclose, they just want to push enough to see results. You need help getting around this? Communicate and get the best advice with a well detailed explanation on your options. What are you waiting for? Contact us NOW!!


Call us anytime 224-306-9359 or connect with us on our website
and we’ll lay out all of your options for your specific situation.

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