In a foreclosure, are there signs put up on property?

Question

Illinois

Might end up having to foreclose through chapter 7. What happens as far as advertising it is a foreclosure? I know it will be published in the newspaper, but are there signs put up on the property, or on the door?

Answer 1

A Chapter 7 bankruptcy won't affect your house. So, I'm guessing you mean that you're filing a Chapter 7 and simply no longer paying the mortgage, allowing it to go into foreclosure.

In terms of publication, there won't be a yard sign out front or anything. The sheriff may post a notice on your door or drop a notice in the mailbox, but there's no requirement that it has to stay up -- take it down as soon as you see it and it'll never show up again. It's just to inform anyone living there that a sheriff sale is being scheduled.

It might be advertised in local newspapers and posted somewhere at the county courthouse, as well. Those are the two most likely places of publication. Some states/counties also require the notice be posted in other public forums, usually other government buildings.

Answer 2

The only sign you will see will be on the property AFTER you move out, when a real estate agency is contracted to sell the property. Additionally, given the winter weather in Illinois, you may also see signs on the front door that the house has been 'winterized'. Most lenders don't want to pay for heating the place while it sits waiting to be sold, so they only maintain electricity and have the plumbing drained to prevent freeze issues. That won't happen until after you vacate either.

Answer 3

In some states the foreclosure notice must be attached to the front door.

However, they can be taken down by the home owner if he/she wants to.

Answer 4

no signs