When it is really foreclosed?

Posted on: Tue, 10/06/2009 - 21:52

pbuchan1

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When it is really foreclosed?

Hi - I became confused when dealing with a sheriff's sale and seeing all the continuances that happen during the process.

At what point is the foreclosure complete and other lien's and mortgages null and void? I know it's not when the lis pendens is filed. Is it when the sheriff's sale occurs? Does it depend on whether a person or entity buys the property or whether the bank buys it back?

Confused in Illinois.

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by pbuchan1
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When it is really foreclosed?

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