How public is foreclosure process....

[baguy]

I'm possibly planning a chapter 7 and foreclosure in IL. From a pure financial / my best interest point of view, it would be a very good idea for me to give the home up, as I am over 50,000 upside down. The only thing potentially holding me back is the embarrassment of foreclosure. I know I shouldn't care what others think and just do what is best for me and my family's future, but it's still hard.

1. Anyone here go through this process in Illinois? Anything you can tell me to ease my mind?

2. Do they put auction / foreclosure signs on your front lawn? (I plan on living in the home until about a month before the sherriff's sale).


Any other suggestions from anybody? Thanks.

[lrprn]

From a pure financial / my best interest point of view, it would be a very good idea for me to give the home up, as I am over 50,000 upside down. The only thing potentially holding me back is the embarrassment of foreclosure. I know I shouldn't care what others think and just do what is best for me and my family's future, but it's still hard.

You need to read this excellent current thread on how to deal with the public nature of bankruptcy - http://www.bkforum.com/showthread.php?t=23539

So...your pride is worth $50,000? That's quite a mountain of pride you have there, ba!

Seriously, I have a feeling you know the right thing to do for a chance at a better financial future. You just have to realize that what you are doing is making a financial decision, nothing more. Pride shouldn't be the driver of that decision. Looking ahead to what's best for you and your family needs to be the top deciding factor.

1. Anyone here go through this process in Illinois? Anything you can tell me to ease my mind?

Here's how the foreclosure process typically runs in Illiniois - http://www.foreclosureuniversity.com...s/illinois.php

2. Do they put auction / foreclosure signs on your front lawn? (I plan on living in the home until about a month before the sherriff's sale).

Sometimes if the home is going to be sold at auction as most are. It depends on the lender. Read the thread I recommended and see if that helps resolve some of your feelings of embarrassment about filing.

[imbroke2]

I'm also in IL and even though I don't know much about the actual foreclosure process here, I can tell you about some of the homes in my area that have been foreclosed on. We even have one on our block and about 4 or 5 in our subdivision. I have seen them in the local paper, but unless you're someone who is really looking to buy a foreclosed home, I don't really see anyone reading them as there are so many at this time. The house on our block just had a small paper in the window. There are no signs put out to humiliate you. I think only your neighbors would realize it when you move out. It seems to be more of a private thing here in IL, which makes you at least feel you can keep some of your pride. Good luck.

[justplaintired]

Not familiar with Ill. but Indiana, they publish the intent to foreclose in our local paper, that's about it. No signs in the yard or anything.

They only way to see if a house is foreclosed on here is they put a bright orange sticker on the front door, not very big mind you but if you know what it means it means forecloser. Only reason we know this is our nephew is in the process of trying to find a house and we have kind of been helping him look.

[shortee]

We have a neighbor that just got foreclosed on. You would of never known if they didnt tell us. The only thing that looked weird was people going in and out cleaning out the place that we didnt know. They left ALOT of stuff. There was no sign or anything in the window.