Illinois legislation · 104th General Assembly
Illinois SB2951: MORTGAGE FORECLOSURE TIME
Status: Signed into law, August 21, 2026
Amends the Code of Civil Procedure. Provides that any indebtedness of any kind that is secured by a mortgage or deed of trust in the nature of a mortgage has a 10-year period to commence an action. Amends the Probate Act of 1975. Provides that in any proceeding to sell or mortgage real estate, if the secured creditors cannot be satisfied in full, then the court shall not direct the sale without the secured creditors' approval to accept partial satisfaction; and if the secured creditors cannot be satisfied in full, a sale of the property is not considered necessary for the proper administration of the estate. Effective immediately.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB2951Introduced 1/27/2026, by Sen. Robert F. MartwickSYNOPSIS AS INTRODUCED: ILCS 5/13-115from Ch. 110, par. 13-115735 ILCS 5/13-206from Ch. 110, par. 13-206755 ILCS 5/20-6from Ch. 110 1/2, par. 20-6 735 ILCS 5/13-115 from Ch. 110, par. 13-115 735 ILCS 5/13-206 from Ch. 110, par. 13-206 755 ILCS 5/20-6 from Ch. 110 1/2, par. 20-6 ILCS 5/13-115 from Ch. 110, par. 13-115 ILCS 5/13-206 from Ch. 110, par. 13-206 ILCS 5/20-6 from Ch. 110 1/2, par. 20-6 Amends the Code of Civil Procedure…
From the introduced text, February 3, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB2951Introduced 1/27/2026, by Sen. Robert F. MartwickSYNOPSIS AS INTRODUCED: ILCS 5/13-115from Ch. 110, par. 13-115735 ILCS 5/13-206from Ch. 110, par. 13-206755 ILCS 5/20-6from Ch. 110 1/2, par. 20-6 735 ILCS 5/13-115 from Ch. 110, par. 13-115 735 ILCS 5/13-206 from Ch. 110, par. 13-206 755 ILCS 5/20-6 from Ch. 110 1/2, par. 20-6 ILCS 5/13-115 from Ch. 110, par. 13-115 ILCS 5/13-206 from Ch. 110, par. 13-206 ILCS 5/20-6 from Ch. 110 1/2, par. 20-6 Amends the Code of Civil Procedure. Provides that any indebtedness ofany kind that is secured by a mortgage or deed of trust in the nature of amortgage has a 10-year period to commence an action. Amends the Probate Actof 1975. Provides that in any proceeding to sell or mortgage real estate,if the secured creditors cannot be satisfied in full, then the court shallnot direct the sale without the secured creditors' approval to acceptpartial satisfaction; and if the secured creditors cannot be satisfied infull, a sale of the property is not considered necessary for the properadministration of the estate. Effective immediately. LRB104 20377 JRC 33834 b LRB104 20377 JRC 33834 b LRB104 20377 JRC 33834 b A BILL FOR SB2951LRB104 20377 JRC 33834 b SB2951 LRB104 20377 JRC 33834 b SB2951 LRB104 20377 JRC 33834 …