In Illinois, most people believe the foreclosure process concludes at the time the court confirms the sale of the property following the judgment of foreclosure and sale. This is not always the case and often the new owner of the foreclosed may need to initiate eviction proceedings. In the event there is still a tenant on the foreclosed property, evictions are handled differently depending on whether the party occupying the property is a prior mortgagor/owner, or a tenant occupying the property. Not surprisingly, if the party to be evicted is a prior mortgagor/owner, the process is much simpler than when the party is not. This boils down to the simple fact that the prior mortgagor is a party to the judicial foreclosure action. Evicting occupants who are not prior mortgagor or owners is much more complicated and time-consuming.
This course, presented by real estate attorney Katherine Rehan, will address both situations and given the complexities of the non-owner/tenant eviction process, we will delve into the multiple statutes and ordinances that must be considered.