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lake county foreclosure defense lawyerAccording to information collected by local news outlets, the end of the eviction moratorium in Illinois did not trigger the “tsunami of evictions” in the city of Chicago and Cook County at large that many were expecting. The statewide ban on evictions was initiated in March 2020 following the stay-at-home orders issued by Governor J.B. Pritzker at the beginning of the COVID-19 health crisis. The moratorium was repeatedly extended by the governor until it ultimately came to an end on October 3, 2021.

A Look at the Numbers

The office of Cook County Chief Judge Tim Evans provided preliminary information to WTTW, a Chicago-area PBS affiliate. According to that data, the total number of commercial and residential evictions in Chicago and Cook County was nearly one-third lower in October 2021 compared to October 2019. October represented the first full month in which there were no restrictions related to the enforcement of eviction judgments in the state.

Records indicate that 1,278 residential eviction judgments were approved in the city of Chicago in October of 2021, along with 42 commercial evictions. Suburban Cook County added another 566 households and 22 businesses for a countywide total of 1,866. These numbers represent a significant jump from October 2020, in which the courts only approved a total of 322 evictions.


grayslake real estate lawyerUnfortunately, there are many cases where people may experience financial difficulties that make it impossible for them to continue owning a home. To make matters worse, economic downturns have caused many homes to lose value, and this means that a homeowner may be in a situation where they owe more money on their mortgage than their house is actually worth. If you are in this situation, you may be able to complete a short sale, which will allow you to sell your home and find new living arrangements that you can afford. By understanding whether doing so will provide you with benefits, you can prepare to make the necessary arrangements to ensure that you will be able to regain financial stability.

Advantages and Disadvantages of Short Sales

In many cases, a short sale will need to be approved by the mortgage lender. While lenders may be understandably reluctant to allow a home to sell for less than what is owed, this may be the best option for them, since it may allow them to minimize their financial losses and avoid the costs and legal requirements of a foreclosure. In order to demonstrate that a short sale is necessary, a homeowner will usually need to provide their mortgage lender with a hardship lender detailing the reasons why they are unable to continue making mortgage payments, such as the loss of a job or increased medical expenses. They will also need to provide supporting documents showing their income and the assets they own, as well as a comparative market analysis showing the expected purchase price of the home.

Completing a short sale can provide a number of benefits for a homeowner. It will allow them to avoid the difficulty of going through a foreclosure, and in most cases, a lender will agree to forgive a deficiency, or the amount remaining on the mortgage after selling the home. The fees and closing costs involved in selling the home will be paid by the lender, providing the homeowner with some savings that can be used to secure new living arrangements. While a short sale will have some effect on a person’s credit score, it will not be as harmful as a foreclosure, and a person may be able to obtain a new home loan within a few years.


grayslake real estate closings attorneyWhether you are happy in your current home or believe that it does not fully meet your family’s needs, the time may come when you will be ready to pick up your roots and move to another home in your city, a neighboring area, or somewhere else entirely. To be able to move, you will not only need to find a new home, but you will need to put your current home on the market and begin showing it to potential buyers. Since moving can be expensive, you will want to avoid unexpected expenses whenever possible. As you prepare to sell your home, understanding the various costs involved will help you make sure you will be able to maintain financial success as you begin the next phase of your life.

Costs Involved in Selling a Home 

You will want to fully understand expenses that may apply as you prepare your home to be sold, list it for sale, and complete the home closing process after accepting an offer from a buyer. These expenses may include:

  • Inspections and repairs - While a buyer will perform a home inspection during the closing process, you may also choose to perform your own inspection to determine whether there are any issues that will need to be addressed or repairs that will need to be made. By addressing these issues before selling your home, you can avoid unexpected costs for repairs requested by a buyer. 


round lake foreclosure defense lawyerLandlords need to be able to earn sufficient income through the property they own in order to make sure they are receiving the appropriate returns on their investments. To protect their financial interests, there are some cases where landlords may need to take action to evict tenants. While a moratorium on evictions was in effect for much of 2020 and 2021 due to the COVID-19 pandemic, this moratorium ended in October of 2021. While there are some cases where landlords may be able to help tenants apply for emergency rental assistance or negotiate lease modifications that will allow tenants to make affordable rent payments, if a workable solution cannot be found, evictions may be necessary. In these situations, landlords will need to make sure they are following the proper procedures during the eviction process.

Steps Followed When Evicting Residential Tenants

In most cases, the eviction process will begin when the landlord sends a termination notice to the tenant. In cases involving non-payment of rent, a tenant may be served with a notice that the lease will be terminated in five days if rent is not paid. In cases where a tenant has violated the terms of the lease, such as by damaging the property, a tenant must be served with a notice that the lease will be terminated in 10 days if the issue is not corrected. In cases where a landlord wishes to end a month-to-month lease or a lease that was created through an oral agreement, they will usually be required to provide the tenant with 30 days’ notice.

After the termination of a lease, a landlord can formally begin the eviction process by filing a complaint in court. A hearing will be scheduled where a judge will review the facts of the case and determine whether the eviction should be allowed to proceed. The complaint must be served to the tenant along with a court summons, and the tenant must be served at least three days before the date of the scheduled hearing. After September 13, 2021, a summons must be accompanied by a notice informing the tenant about the availability of Court-Based Rental Assistance. If the tenant does not appear at the eviction hearing, a default judgment may be issued, although the tenant may be able to file a motion to vacate a default judgment within 30 days.


Grayslake Foreclosure Defense LawyerOriginally published: July 19, 2019 -- Updated: November 8, 2021

UPDATE: A consent foreclosure, as described below, may be a beneficial way for a person to relinquish ownership of their home and avoid a deficiency judgment. However, homeowners who are considering a consent foreclosure should be sure to understand how this will affect their credit. The completion of a foreclosure will be included in a person’s credit report, which could affect their ability to secure a mortgage in the future. If this will be a concern, a homeowner may need to determine whether completing a short sale or using a deed in lieu of foreclosure will be a more beneficial option.

Homeowners should also understand how junior liens such as a second mortgage or home equity line of credit may affect their ability to complete a consent foreclosure. A consent foreclosure will remove all liens from the title of the home, and a mortgage lender will waive their right to pursue a deficiency judgment to collect any additional amounts owed on a mortgage. All lenders who have an interest in the property must consent to this type of foreclosure. Because junior mortgage lenders may not be able to recover what is owed, they may object to a consent foreclosure. If objections prevent a homeowner from completing a consent foreclosure, they may need to consider other options. In some cases, a judicial foreclosure may be completed.

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