Illinois Mortgage Foreclosure Law (IMFL)

Governs the foreclosure process in Illinois and includes protections for renters.

In Illinois, the foreclosure process is a court proceeding where the lender files a complaint against the owner for non-payment of the mortgage. The complaint asks the court to allow the lender to take possession of the property as a remedy. The Illinois Mortgage Foreclosure Law (IMFL) provides the method for foreclosing on all mortgages in Illinois and includes protections for renters living in homes affected by foreclosure. In 2013, Illinois adopted parts of the Federal Protecting Tenants at Foreclosure Law (PTFA), incorporating the definition of bona fide lease into the IMFL and Forcible Entry and Detainer Act (FEDA) and impacting duration of leases; supplemental petitions; and notice of change in management.

Illinois State
735 ILCS 5/15-1101 et seq. (2013).