ILCS » Chapter 735 · Act 5
Illinois Compiled Statutes

735 ILCS 5/15-1603 (2026)

Redemption

✓ current as of May 2026
Find cases: SyfertCases citing this section IL-ILGAilga.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar
(735 ILCS 5/15-1603) (from Ch. 110, par. 15-1603)
    Sec. 15-1603. Redemption.
    (a) Owner of Redemption. Except as provided in subsection (b) of Section 15-1402, only an owner of redemption may redeem from the foreclosure, and such owner of redemption may redeem only during the redemption period specified in subsection (b) of this Section 15-1603 and only if the right of redemption has not been validly waived.
    (b) Redemption Period.
        (1) In the foreclosure of a mortgage of real estate
    
which is residential real estate at the time the foreclosure is commenced, the redemption period shall end on the later of (i) the date 7 months from the date the mortgagor or, if more than one, all the mortgagors (A) have been served with summons or by publication or (B) have otherwise submitted to the jurisdiction of the court, or (ii) the date 3 months from the date of entry of a judgment of foreclosure.
        (2) In all other foreclosures, the redemption period
    
shall end on the later of (i) the date 6 months from the date the mortgagor or, if more than one, all the mortgagors (A) have been served with summons or by publication or (B) have otherwise submitted to the jurisdiction of the court, or (ii) the date 3 months from the date of entry of a judgment of foreclosure.
        (3) Notwithstanding paragraphs (1) and (2), the
    
redemption period shall end at the later of the expiration of any reinstatement period provided for in Section 15-1602 or the date 60 days after the date the judgment of foreclosure is entered, if the court finds that (i) the value of the mortgaged real estate as of the date of the judgment is less than 90% of the amount specified pursuant to subsection (d) of this Section 15-1603 and (ii) the mortgagee waives any and all rights to a personal judgment for a deficiency against the mortgagor and against all other persons liable for the indebtedness or other obligations secured by the mortgage.
        (4) Notwithstanding paragraphs (1) and (2), the
    
redemption period shall end on the date 30 days after the date the judgment of foreclosure is entered if the court finds that the mortgaged real estate has been abandoned. In cases where the redemption period is shortened on account of abandonment, the reinstatement period shall not extend beyond the redemption period as shortened.
    (c) Extension of Redemption Period.
        (1) Once expired, the right of redemption provided
    
for in this Section 15-1603 or Section 15-1604 shall not be revived. The period within which the right of redemption provided for in this Section 15-1603 or Section 15-1604 may be exercised runs independently of any action by any person to enforce the judgment of foreclosure or effect a sale pursuant thereto. Neither the initiation of any legal proceeding nor the order of any court staying the enforcement of a judgment of foreclosure or the sale pursuant to a judgment or the confirmation of the sale, shall have the effect of tolling the running of the redemption period.
        (2) If a court has the authority to stay, and does
    
stay, the running of the redemption period, or if the redemption period is extended by any statute of the United States, the redemption period shall be extended until the expiration of the same number of days after the expiration of the stay order as the number of days remaining in the redemption period at the time the stay order became effective, or, if later, until the expiration of 30 days after the stay order terminates. If the stay order terminates more than 30 days prior to the expiration of the redemption period, the redemption period shall not be extended.
    (d) Amount Required to Redeem. The amount required to redeem shall be the sum of:
        (1) The amount specified in the judgment of
    
foreclosure, which shall consist of (i) all principal and accrued interest secured by the mortgage and due as of the date of the judgment, (ii) all costs allowed by law, (iii) costs and expenses approved by the court, (iv) to the extent provided for in the mortgage and approved by the court, additional costs, expenses, and reasonable attorney's fees incurred by the mortgagee, (v) all amounts paid pursuant to Section 15-1505, and (vi) per diem interest from the date of judgment to the date of redemption calculated at the mortgage rate of interest applicable as if no default had occurred; and
        (2) The amount of other expenses authorized by the
    
court which the mortgagee reasonably incurs between the date of judgment and the date of redemption, which shall be the amount certified by the mortgagee in accordance with subsection (e) of this Section 15-1603.
    (e) Notice of Intent to Redeem. An owner of redemption who intends to redeem shall give written notice of such intent to redeem to the mortgagee's attorney of record specifying the date designated for redemption and the current address of the owner of redemption for purposes of receiving notice. Such owner of redemption shall file with the clerk of the court a certification of the giving of such notice. The notice of intent to redeem must be received by the mortgagee's attorney at least 15 days (other than Saturday, Sunday, or court holiday) prior to the date designated for redemption. The mortgagee shall thereupon file with the clerk of the court and shall give written notice to the owner of redemption at least three days (other than Saturday, Sunday, or court holiday) before the date designated for redemption a certification, accompanied by copies of paid receipts or appropriate affidavits, of any expenses authorized in paragraph (2) of subsection (d) of this Section 15-1603. If the mortgagee fails to serve such certification within the time specified herein, then the owner of redemption intending to redeem may redeem on the date designated for redemption in the notice of intent to redeem, and the mortgagee shall not be entitled to payment of any expenses authorized in paragraph (2) of subsection (d) of this Section 15-1603.
    (f) Procedure for Redemption.
        (1) An owner of redemption may redeem the real estate
    
from the foreclosure by paying the amount specified in subsection (d) of this Section 15-1603 to the mortgagee or the mortgagee's attorney of record on or before the date designated for redemption pursuant to subsection (e) of this Section 15-1603.
        (2) If the mortgagee refuses to accept payment or if
    
the owner of redemption redeeming from the foreclosure objects to the reasonableness of the additional expenses authorized in paragraph (2) of subsection (d) of this Section 15-1603 and certified in accordance with subsection (e) of this Section 15-1603, the owner of redemption shall pay the certified amount to the clerk of the court on or before the date designated for redemption, together with a written statement specifying the expenses to which objection is made. In such case the clerk shall pay to the mortgagee the amount tendered minus the amount to which the objection pertains.
        (3) Upon payment to the clerk, whether or not the
    
owner of redemption files an objection at the time of payment, the clerk shall give a receipt of payment to the person redeeming from the foreclosure, and shall file a copy of that receipt in the foreclosure record. Upon receipt of the amounts specified to be paid to the mortgagee pursuant to this Section, the mortgagee shall promptly furnish the mortgagor with a release of the mortgage or satisfaction of the judgment, as appropriate, and the evidence of all indebtedness secured by the mortgage shall be cancelled.
    (g) Procedure Upon Objection. If an objection is filed by an owner of redemption in accordance with paragraph (2) of subsection (f) of this Section 15-1603, the clerk shall hold the amount to which the objection pertains until the court orders distribution of those funds. The court shall hold a hearing promptly to determine the distribution of any funds held by the clerk pursuant to such objection. Each party shall pay its own costs and expenses in connection with any objection, including attorney's fees.
    (h) Failure to Redeem. Unless the real estate being foreclosed is redeemed from the foreclosure, it shall be sold as provided in this Article.
(Source: P.A. 104-417, eff. 8-15-25.)

    
Notes of Decisions
Cited in 22 cases (7 in the last 5 years), 1997–2025 · leading case: Schweihs v. Chase Home Fin., LLC, 2016 IL 120041 (Ill. 2016).
Sort: Relevance Newest Treatment
Schweihs v. Chase Home Fin., LLC, 2016 IL 120041 (Ill. 2016). · cites it 2× “care by “(a) negligently determining that the property was ‘vacant,’ ” “(b) negligently entering a report that labeled the property as ‘first time vacancy,’ ” “(c) negligently employing a system that permits an ‘initial secure’ work order to be placed and carried out without…”
Rosestone Investments, LLC v. Garner, 2013 IL App (1st) 123422 (Ill. App. Ct. 2014). · cites it 3× “He claims that plaintiff “filed a fraudulent Motion to Shorten Redemption” which, he asserts, “violated Illinois law, under 735 ILCS 5/15-1603(b)” and rendered plaintiff’s counsel “guilty of a Class B misdemeanor.”
Aurora Loan Servs., Inc. v. Frank Craddieth & Peggy Craddieth, Appeal Of: Midwest Real Est. Inv. Co., Intervenor-Appellant, 442 F.3d 1018 (7th Cir. 2006). · cites it 2× “735 ILCS 5/15-1603(b). The deadline (also set by statute) for equitable redemption is the foreclosure sale.”
Schweihs v. Chase Home Fin., LLC, 2016 IL 120041 (Ill. 2017). · cites it 3× “by “(a) negligently determining that the property was ‘vacant,’ ” “(b) negligently entering a report that labeled the property as ‘first time vacancy,’ ” -9- “(c) negligently employing a system that permits an ‘initial secure’ work order to be placed and carried out without…”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). · cites it 3× “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). · cites it 2× “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
Schweihs v. Chase Home Fin. LLC, 2021 IL App (1st) 191779 (Ill. App. Ct. 2021). “See 735 ILCS 5/15-1603(b)(1)(ii) (West 2010).”
Schweihs v. Chase Home Fin., LLC, 2015 IL App (1st) 140683 (Ill. App. Ct. 2015). · cites it 2× “¶ 29 In support of her argument, Schweihs contends that sections 15-1603 and 15-1701 of the Illinois Mortgage Foreclosure Law, (735 ILCS 5/15-1603, 15-1701 (West 2010)), which relate to redemption and right to possession, prohibited defendants from taking possession of her home…”
BCGS, L.L.C. v. Jaster, 700 N.E.2d 1075 (Ill. App. Ct. 1998). “Krueger's argument contravenes the express language of the Mortgage Foreclosure Law which provides that, "[o]nce expired, the right of redemption * * * shall not be revived" (735 ILCS 5/15-1603(c)(1) (West 1996)). Here, Jaster's purchase of the property occurred after the…”
CitiMortgage, Inc. v. Sharlow, 2014 IL App (3d) 130107 (Ill. App. Ct. 2014). “Postjudgment interest, however, is addressed in the statutory section on redemption (735 ILCS 5/15-1603 (West 2012)). Under that section, a person who redeems the property within the redemption period must pay postjudgment interest for the period from the date of the foreclosure…”
CitiMortgage, Inc. v. Sharlow, 2014 IL App (3d) 130107 (Ill. App. Ct. 2014). · cites it 2× “Postjudgment interest, however, is addressed in the statutory section on redemption (735 ILCS 5/15-1603 (West 2012)). Under that section, a person who redeems the property within the redemption period must pay postjudgment interest for the period from the date of the foreclosure…”
WIlliam Werner v. Auto-Owners Ins. Co., 106 F.4th 676 (7th Cir. 2024). “735 ILCS 5/15-1603(c)(1) & 1605; see also Aurora Loan Servs.”
Show all 22 citing cases →
— 735 ILCS 5/15-1603(b) — 5 cases
Rosestone Investments, LLC v. Garner, 2013 IL App (1st) 123422 (Ill. App. Ct. 2014). “He claims that plaintiff “filed a fraudulent Motion to Shorten Redemption” which, he asserts, “violated Illinois law, under 735 ILCS 5/15-1603(b)” and rendered plaintiff’s counsel “guilty of a Class B misdemeanor.”
Aurora Loan Servs., Inc. v. Frank Craddieth & Peggy Craddieth, Appeal Of: Midwest Real Est. Inv. Co., Intervenor-Appellant, 442 F.3d 1018 (7th Cir. 2006). “735 ILCS 5/15-1603(b). The deadline (also set by statute) for equitable redemption is the foreclosure sale.”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
Aurora Loan Serv v. Craddieth, Frank (7th Cir. 2006).
— 735 ILCS 5/15-1603(b)(1) — 2 cases
Lakeview Loan Servicing, LLC v. Delarama, 2025 IL App (3d) 240132-U (Ill. App. Ct. 2025).
Colon, Norma I. v. Option One Mortg. (7th Cir. 2003).
— 735 ILCS 5/15-1603(b)(1)(ii) — 1 case
Schweihs v. Chase Home Fin. LLC, 2021 IL App (1st) 191779 (Ill. App. Ct. 2021). “See 735 ILCS 5/15-1603(b)(1)(ii) (West 2010).”
— 735 ILCS 5/15-1603(b)(2) — 1 case
First Midwest Bank v. Prime Mkt. Targeting, Inc., 2021 IL App (3d) 180650-U (Ill. App. Ct. 2021).
— 735 ILCS 5/15-1603(b)(4) — 3 cases
Rosestone Investments, LLC v. Garner, 2013 IL App (1st) 123422 (Ill. App. Ct. 2014). “He claims that plaintiff “filed a fraudulent Motion to Shorten Redemption” which, he asserts, “violated Illinois law, under 735 ILCS 5/15-1603(b)” and rendered plaintiff’s counsel “guilty of a Class B misdemeanor.”
Schweihs v. Chase Home Fin., LLC, 2016 IL 120041 (Ill. 2017). “by “(a) negligently determining that the property was ‘vacant,’ ” “(b) negligently entering a report that labeled the property as ‘first time vacancy,’ ” -9- “(c) negligently employing a system that permits an ‘initial secure’ work order to be placed and carried out without…”
Schweihs v. Chase Home Fin., LLC, 2015 IL App (1st) 140683 (Ill. App. Ct. 2015). “¶ 29 In support of her argument, Schweihs contends that sections 15-1603 and 15-1701 of the Illinois Mortgage Foreclosure Law, (735 ILCS 5/15-1603, 15-1701 (West 2010)), which relate to redemption and right to possession, prohibited defendants from taking possession of her home…”
— 735 ILCS 5/15-1603(c)(1) — 6 cases
Aurora Loan Servs., Inc. v. Frank Craddieth & Peggy Craddieth, Appeal Of: Midwest Real Est. Inv. Co., Intervenor-Appellant, 442 F.3d 1018 (7th Cir. 2006). “735 ILCS 5/15-1603(b). The deadline (also set by statute) for equitable redemption is the foreclosure sale.”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
BCGS, L.L.C. v. Jaster, 700 N.E.2d 1075 (Ill. App. Ct. 1998). “Krueger's argument contravenes the express language of the Mortgage Foreclosure Law which provides that, "[o]nce expired, the right of redemption * * * shall not be revived" (735 ILCS 5/15-1603(c)(1) (West 1996)). Here, Jaster's purchase of the property occurred after the…”
WIlliam Werner v. Auto-Owners Ins. Co., 106 F.4th 676 (7th Cir. 2024). “735 ILCS 5/15-1603(c)(1) & 1605; see also Aurora Loan Servs.”
William Werner v. Auto-Owners Ins. Co. (7th Cir. 2024).
— 735 ILCS 5/15-1603(d) — 2 cases
Werner v. Auto-Owners Ins. Co. (C.D. Ill. 2021).
United States v. Howard (C.D. Ill. 2022).
— 735 ILCS 5/15-1603(d)(1)(vi) — 1 case
CitiMortgage, Inc. v. Sharlow, 2014 IL App (3d) 130107 (Ill. App. Ct. 2014). “Postjudgment interest, however, is addressed in the statutory section on redemption (735 ILCS 5/15-1603 (West 2012)). Under that section, a person who redeems the property within the redemption period must pay postjudgment interest for the period from the date of the foreclosure…”
— 735 ILCS 5/15-1603(e) — 1 case
Fleet Mortg. Corp. v. Deale (Ill. App. Ct. 1997).
— 735 ILCS 5/15-1603(h) — 4 cases
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
Wells Fargo Bank, N.A. v. McCluskey, 2013 IL 115469 (Ill. 2013). “These protections include time allotted for the right to reinstatement of the mortgage (735 ILCS 5/15-1602 (West 2010)), the equitable and statutory rights of redemption (735 ILCS 5/15-1603(b), 15-1605 (West 2010)), and notice of the judicial sale (735 ILCS 5/15-1507(c) (West…”
PNC Bank v. Krier, 2015 IL App (3d) 140639 (Ill. App. Ct. 2015).
PNC Bank v. Krier, 2015 IL App (3d) 140639 (Ill. App. Ct. 2015).
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.