There is no statutory right to redemption in Illinois; however Illinois does have an equitable right of redemption which is a borrowers right to clear debt prior to foreclosure (short sale). The equitable right of redemption lasts for 7 months after date of service or the first publication date whichever is later.

There is no "right of redemption" for the purchase of a home. Right of redemption applies to a tax taking of your land by the town for non-payment of real estate taxes. If you don't pay your property taxes the town has the legal right to take your property. You can get your property back, i.e., redeem it, by paying the back taxes and interest. That is what is meant by the "right of redemption".

yes

These are the states that do not have redemption period:

The five states they list as having no redemption period are:

Texas, Georgia, Virginia, DC, and New Hampshire

The rest do have different time lines for redemption.

In some states, a lender can seek a personal judgment against the debtor regarding the redemption period for foreclosed homes. In Georgia, there is no statutory right of redemption.