July 8, 2008
Patrick Murphy visits Granite City, Illinois, a community hard hit by the mortgage crisis—with as many as 120 foreclosure cases each month. Foreclosure laws in Illinois are different than those in Missouri. Illinois has a judicial foreclosure system that gives you more time before losing your home. The foreclosure process begins with a lawsuit and has to be approved by a judge which can take as long as a year. If you’re facing a mortgage crisis, the most important thing to do is to seek help. Call 1-800-427-4626.