Facing Foreclosure? Sell Your Chicago Home for Cash
Don't let foreclosure ruin your credit. We can close before the sale date and put cash in your hands. Time is critical - let's talk today.
Get My Free Cash OfferDon't let foreclosure ruin your credit. We can close before the sale date and put cash in your hands. Time is critical - let's talk today.
Get My Free Cash OfferIllinois is a judicial foreclosure state under 735 ILCS 5/15-1501, meaning every foreclosure goes through the court system. That gives you time to act - but only if you move quickly.
A foreclosure stays on your credit report for 7 years, making it difficult to buy a home, rent an apartment, or even get certain jobs. Your credit score can drop 100-160 points overnight when a foreclosure judgment is entered.
The Illinois foreclosure process (735 ILCS 5/15-1501) typically takes 6-12 months from the first missed payment to sale. But once the court enters a judgment, you may have just 30 days before the sheriff's sale. Every week you wait narrows your options.
In Illinois, lenders can pursue a deficiency judgment for the difference between what you owe and what the house sells for at auction. If your home sells for less than the mortgage balance, you could still owe the bank tens of thousands of dollars.
Understanding where you are in the process determines what options are available. The earlier you act, the more choices you have.
Your lender sends late notices and demand letters. After 30 days late, the delinquency is reported to credit bureaus. This is the best time to act - you have the most options available.
The lender files a foreclosure lawsuit with the court and records a lis pendens against the property. This becomes a public record. You are served with a summons and have 30 days to respond.
Hearings, motions, and court conferences take place. You may have options for loan modification mediation through Cook County's mandatory mediation program. We can still buy your house during this window.
The court orders the sale of your property. At this point, the foreclosure is recorded on your credit report. You typically have 30 days before the sheriff's sale. Urgency is critical here.
Your property is sold at public auction, usually for a fraction of its market value. You lose all equity, and the lender may pursue a deficiency judgment for the remaining balance. This is the outcome we want to help you avoid.
We can buy your house at ANY point before the sheriff's sale.
The earlier you act, the more options you have. Even if your sale date is weeks away, call us - we've closed deals on tight deadlines before.
We move fast because we know you need to. Our streamlined process is designed for homeowners who are running out of time.
Tell us about your situation and timeline. Call (630) 290-9959 or fill out the form below. We'll assess your options immediately and let you know how we can help - no judgment, just solutions.
We evaluate your property and present a fair cash offer within 24 hours. No repairs, no inspections you need to arrange, no open houses. You'll know exactly what you're getting before you commit to anything.
We work with your lender and the court to close before the sheriff's sale, protecting your credit and putting cash in your pocket. We handle the payoff, the paperwork, and the coordination with all parties.
Selling your home before the sheriff's sale is the single most effective way to minimize the financial damage of foreclosure.
When we purchase your home, the mortgage is paid off at closing and the foreclosure case is dismissed. The legal proceedings end, and you can move forward without a judgment hanging over you.
A completed foreclosure drops your credit 100-160 points and stays on your report for 7 years. Selling before judgment is entered can prevent the foreclosure from being recorded at all.
If your home sells at auction for less than you owe, the lender can sue you for the difference. Selling to us at fair market value, or negotiating a short sale, helps you avoid owing money after you've lost the house.
Any equity above what you owe goes directly to you at closing. Use it to secure a new place, pay off other debts, or build a financial cushion while you get back on your feet.
We buy with cash, which means no bank approval, no appraisal contingencies, and no waiting. When a sheriff's sale is 3 weeks away, we can still get the deal done in time.
We buy your house as-is. You don't need to invest money you don't have into fixing up a property you're about to lose. Leave it in whatever condition it's in - we handle everything after closing.
In many cases, yes. If the sheriff's sale has not yet occurred, we can often work with your lender to postpone the sale while we close. We've done this successfully many times in Cook County and the collar counties. However, time is critical - contact us immediately if your sale date is approaching so we can evaluate your situation.
If we close before the foreclosure judgment is entered, we can help prevent the foreclosure from being recorded on your credit report. If a lis pendens has already been filed, that public record will still show, but selling is far less damaging to your credit than a completed foreclosure. A sale shows as a satisfied mortgage, while a foreclosure is one of the most negative marks possible.
This is called being "underwater." In some cases, we can negotiate a short sale with your lender, where they agree to accept less than the full amount owed. Lenders often prefer a short sale to the cost and uncertainty of a full foreclosure auction. A short sale is generally much better for your credit than a completed foreclosure and avoids the risk of a deficiency judgment.
No. We handle outstanding property taxes as part of the closing process. Delinquent taxes are paid from the sale proceeds at closing, so you don't need to come out of pocket. This includes any penalties and interest that have accrued on the unpaid tax bills.
Any equity you have in the property - the difference between our offer and what you owe on the mortgage, taxes, and other liens - is yours. You receive that amount in cash at closing after all debts are satisfied. If you let the home go to auction, you risk losing that equity entirely if the property sells for a low price.
We help homeowners facing foreclosure sell quickly and protect their equity before it's lost at auction.
Get Your Free EstimateLegal Information Disclaimer: The legal information on this page has been compiled with research assistance from Chicago Family Attorneys, LLC. This content is for general informational purposes only and does not constitute legal or financial advice. We strongly recommend consulting with a licensed Illinois attorney for guidance specific to your situation.
Read our full Terms & Conditions for important information about title insurance, lis pendens, and how we operate.
Contact us today for a free, no-obligation cash offer. We can close before the sheriff's sale and help you protect your credit and your future.