Facing Foreclosure in Pekin?

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Falling behind on a mortgage is stressful, and the timeline matters. We can make you a cash offer quickly and close fast. Every situation is different, so we'll review your details honestly and explain your options.

We buy houses throughout Tazewell County in their current condition — you won't need to make repairs or cover closing costs.

Foreclosure and tax-sale timeline in Illinois

Illinois is a judicial foreclosure state, which means a lender must go through the court system to foreclose — the process does not happen automatically or overnight. The lender files a foreclosure complaint with the circuit court, serves it on the homeowner, and the homeowner has a window (generally 30 days) to respond before the case moves forward.

According to nonprofit housing counselors, a full Illinois foreclosure can take roughly 12 to 15 months from filing to completion, and it usually does not even begin until several months after the first missed payment. That timeline gives a homeowner meaningful time to weigh options — including selling the property.

After a foreclosure judgment is entered, Illinois law provides a redemption period during which the homeowner can pay the amount owed and stop the sale. For residential property, the redemption period ends on the later of seven months from service of the foreclosure summons or three months from entry of the judgment of foreclosure (735 ILCS 5/15-1603). During the process, the homeowner generally remains in the home unless and until a court orders otherwise.

Separately, if property taxes go unpaid, the county can sell the tax lien at an annual tax sale. In Illinois, the default redemption period is two years from the tax-sale date, and for a residential property of one to six units the minimum redemption period is two and a half years. A 2026 change to Illinois law is extending the window for homeowners to pay off delinquent taxes further. These tax-sale timelines are distinct from mortgage foreclosure and run on their own schedule.

Because the process moves through the courts, a homeowner can sell the property during the foreclosure process — the home is still owned by the homeowner until a court confirms a sale. Selling during that window is one way to pay off the mortgage and preserve whatever equity remains rather than letting the home go to a foreclosure sale.

Sources

• NHS Chicago — "Illinois Foreclosure Process Timeline" (approx. 12–15 months)
• 735 ILCS 5/15-1603(b)(1) — residential redemption: later of 7 months from service of summons or 3 months from judgment
• Illinois Legal Aid Online — "Detailed mortgage foreclosure process" (redemption ends 7 months from service or 3 months from judgment, whichever is later)
• Peoria County — "Tax Redemption" (2-year default, 2.5-year residential 1–6 unit minimum)
• Injustice Watch — "Illinois tax sales get an overhaul" (2026 reform extending payoff period)