This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Lien Foreclosure In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Foreclosure Complaint: In Illinois, the foreclosure process begins when a lender files a lawsuit against a homeowner after the 120-day pre-foreclosure period has ended.
A judge in the Circuit Court of Cook County oversees the foreclosure process, which typically involves the lender filing a lawsuit against the homeowner for defaulting on the mortgage. If the Court finds in favor of the lender, it can result in the forced sale of the property to repay the outstanding mortgage debt.
Next, the lender schedules a sale with the Sheriff's Office. In most cases, there is a 30 to 90 day period after the Judgment of Foreclosure is signed by a judge, before the sale can be scheduled. This 30 to 90 day period is known as the redemption period.
In California, the judgment lien is governed by statute. If the title search reveals a judgment lien, it means that the judgment creditor has recorded an Abstract of Judgment in the county where the debtor (homeowner) resides.
A judgment is not a lien on real estate for longer than 7 years from the time it is entered or revived, unless the judgment is revived within 7 years after its entry or last revival and a new memorandum of judgment is recorded prior to the judgment and its recorded memorandum of judgment becoming dormant.
Foreclosure proceedings begin with a complaint filed by the lender. The borrower is served a copy of the complaint and a summons, along with a notice of his or her rights during foreclosure. In most cases, the borrower has 30 days to file a response. Failure to respond will result in a default judgment for the lender.
You should file your mechanics lien with the County Recorder of Deeds. You can do this in person, by mail, or electronically. Bridgeview Court Bldg. Hours: a.m. – p.m. Monday – Friday (recordings/purchases accepted until p.m.)
Deadline to File Suit or Foreclose Claim Suit must commence within four months after completion of the project. If the contractor records its claim of lien, it must file suit (or join in an existing action, and answer, counterclaim, etc., within that suit) within 2 years after completion of the project.
Illinois Department of Revenue: Inquirers may visit the State Tax Lien Registry website and search for liens by debtor name or tax lien number. The information accessible through this registry includes: Lien filing date. Tax type (e.g., income, sales, unemployment)
