Do I have to move out on the day of the Sheriff Sale?

Asked by kbusch, Plainfield, IL Fri Mar 8, 2013

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Michael Sims, Agent, Joliet, IL
Mon Mar 25, 2013
In Illinois you have 30 days from the date of the Sheriff Sale to redeem your mortgage in full. So if you have the cash to pay it off go ahead and do so. Sounds simple enough right? Since most people do not have the cash to do so, you can do one of two things. 1) Move and not worry about the home any longer, or 2) remain in the home until you get an eviction notice. Many of the lenders are working with the former homeowners and allowing rent-back programs and also Cash-For-Keys which is a relocation program. That is to say that some of them will provide moving assistance for you. That can go a long way with a security deposit and actual moving expenses. The best thing is to talk to your mortgage company, the probably have a toll-free number too!
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Riccardo War…, Agent, Bolingbrook, IL
Fri Mar 8, 2013
You should get a notice to vacate then you will have 30 days after that.

Sean Cochran
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