If you’re behind on your mortgage in Naperville, Aurora, Plainfield, Elgin — or anywhere in the Chicago suburbs — you need to hear this loud and clear:
You still have options. You still have time. And you still have power.
I’m Sean Gimpert with O’Neil Property Group, and I work with homeowners across DuPage, Will, Kane, and Kendall counties who are facing foreclosure and think they’re out of moves.
This guide walks you through 7 real, legal ways to stop foreclosure — from strategies that might help you keep your home, to smart exit plans if keeping it just isn’t realistic anymore.
👉 Download my free guide: “7 Ways to Stop Foreclosure in the Chicago Suburbs” — it includes a step-by-step checklist, timelines, and legal resources. And if you’d rather talk through your situation? Book a free home valuation and foreclosure strategy call. No pressure — just honest answers.
What Foreclosure Really Means in Illinois
Foreclosure is not a single event — it’s a legal process. In Illinois, it’s called a judicial foreclosure, which means your lender must sue you in court to take your home. This process often takes 6 to 12 months, sometimes longer.
Here’s the general timeline:
- You miss payments
- You receive notices and demand letters
- Your lender files a lawsuit
- The case goes to judgment
- Your home is auctioned
Until that final auction, you still own your home — and you still have leverage. The worst thing you can do is ignore the problem. Facing it early gives you more solutions, and someone like me in your corner makes all the difference.
4 Ways to Keep Your Home
1. Loan Modification
Your lender may agree to change the terms of your loan — lowering your interest rate, extending the payoff period, or reducing monthly payments. It’s paperwork-heavy, but if you qualify, this can save your home.
👉 Need help? Book a free call and I’ll connect you with a loan modification specialist.
2. Forbearance / Repayment Plan
For temporary hardships (job loss, medical issues), lenders may let you pause or reduce payments temporarily. Repayment plans help you catch up gradually. You must request this early — it’s not automatic.
3. Reinstatement
Got access to a lump sum — maybe from a tax refund or family help? You might be able to bring your loan current and stop foreclosure cold. This is rare but powerful when it works.
4. Foreclosure Mediation
Counties like DuPage and Will offer free legal help and mediation programs. These can delay the process and help negotiate solutions — even if you’ve already been served.
📥 These program links are included in the free guide — download it here.
3 Smart Exit Strategies
Sometimes keeping the home just isn’t feasible — and that’s okay. These next three strategies can help you exit gracefully and protect your credit.
5. Subject-To Sale
A buyer takes over your mortgage payments, but the loan stays in your name. You transfer ownership while stopping foreclosure and avoiding a credit hit. It’s only safe when properly structured — I’ll walk you through it.
6. Short Sale
If you owe more than your home is worth, I can negotiate with your lender to accept less than the balance owed. You avoid foreclosure, reduce credit damage, and sometimes even get cash incentives to move. I’ve helped dozens of homeowners in DuPage and Will counties navigate this.
7. Traditional or Cash Sale Before Auction
If you have equity, I’ll list your home for top dollar. If time is tight, we’ll explore a cash sale. Just know — cash buyers trade speed for price, so you need an agent negotiating aggressively on your behalf.
📺 Check out my related video: “Cash Offer vs. Traditional Sale: Which Gets You the Best Deal?“ for a deeper breakdown below.
Real Story: Bensenville Client Avoids Foreclosure
One of my clients in Bensenville was underwater and overwhelmed. We chose a short sale. After listing, we received over a dozen cash offers — even above list price. Despite legal hurdles, I negotiated with the lender and got the deal approved. Now, that client is starting fresh — no foreclosure on their record.
What to Do Next
You’ve got 7 real options.
Let’s figure out which one fits your situation:
👉 Download the free guide: Includes timelines, links, and a printable checklist.
👉 Get a home valuation: Know exactly what your house is worth before you decide.
👉 Schedule a free exit strategy call: We’ll evaluate your loan, equity, and options.
📞 Call or Text: 630-315-0723
📧 Email: sean@oneilpropertygroup.com
Other Resources:
FAQs
How long does foreclosure take in Illinois?
Generally, 6–12 months, but it can vary depending on the court system and your lender.
Can I sell my house while in foreclosure?
Yes. Until the home is auctioned, you can list it, pursue a short sale, or consider a subject-to deal.
What if I’ve already been served foreclosure papers?
You still have options. Mediation, short sale, and subject-to strategies are all still possible.
Will a short sale hurt my credit?
Yes, but typically less than a foreclosure. And it may allow you to qualify for a new mortgage sooner.
What’s the fastest way to stop foreclosure?
Reinstatement (if you can afford it), a subject-to sale, or a negotiated short sale are usually the fastest.