Illinois Compiled Statutes 735 ILCS 5/15-1211 – Notice of Foreclosure
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Terms Used In Illinois Compiled Statutes 735 ILCS 5/15-1211
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
“Notice of foreclosure” means the notice of a foreclosure which is made and recorded in accordance with Section 15-1503 of this Article.