What happens to your credit?

Question

when a bank decides to accept your home 'inleu' of foreclosure.

and how long do you have to vacate the premises before you are evicted?

Answer 1

In WI, your credit score drops durastically and you have 30 days to vacate the premises. In some states, you can file for an extension to vacate. Also, you can file for another extension upon the first one.

I'm sorry, I dont know for sure about IL, but im guessing the law is about the same.  I recommend contacting a lawyer--its free consultation & you could get a real answer. Sorry I couldnt help much.