Estimate reinstatement and equity
Enter your arrears to estimate the reinstatement amount, and your value and balances to estimate the equity at stake.
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Reviewed and updated June 2026
Situation calculators
Foreclosure Reinstatement and Equity Calculator
Estimate what it would cost to reinstate a mortgage that is behind, and how much equity you could protect by selling before a foreclosure sale. This is a planning tool, not legal or lending advice.
Selling or buying soon
A calculator is a starting point. Get a full picture with a direct review of payoff, taxes, title, condition, and timing.
Reinstate, sell, or short sale
If you are behind on a mortgage, you usually have more options than you think, and time is the key variable. Reinstating brings the loan current. Selling before a foreclosure sale can protect the equity you have built. If the balance is close to or above value, a short sale or a direct as-is sale may still beat a judgment.
How to read your results
Two numbers matter here, the cash to reinstate the loan and the equity you would keep by selling before a foreclosure sale.
- Reinstatement is the missed payments plus late fees, attorney and court fees, and any other arrears the servicer adds.
- Estimated equity is value minus payoff, liens, and selling costs, and positive equity is worth protecting before an auction.
- Illinois gives a reinstatement window early in a foreclosure case, but it narrows once a judgment and sale date are set.
- If equity is thin or negative, a short sale or a direct as-is sale can still beat losing the home at a sheriff sale.
How foreclosure reinstatement and equity work
Reinstatement is the amount needed to bring a defaulted loan current. It generally includes the missed payments, late fees, and the lender's attorney and court costs, and it stops the foreclosure if paid before the deadline set by law. The servicer provides the binding reinstatement figure on request.
The other half of the decision is equity. If your home is worth more than the payoff and liens, selling before a foreclosure sale lets you keep that difference instead of losing it at auction. If equity is thin, a short sale or a direct as-is sale can still be better than a deficiency or a judgment. Speed matters once a case is filed, so review the numbers early.
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Foreclosure FAQs
What does it cost to reinstate a mortgage?
Reinstatement usually includes the missed payments, late fees, and the lender's attorney and court costs. Paying it before the deadline brings the loan current and stops the foreclosure. The servicer provides the exact figure in a reinstatement quote.
Should I sell or let the home go to foreclosure?
If your home is worth more than the loan payoff and liens, selling before a foreclosure sale lets you keep that equity rather than losing it at auction. If equity is thin, a short sale or a direct as-is sale can still beat a judgment. Review the numbers quickly.
How much time do I have?
Illinois foreclosure has set timelines and a reinstatement window, but once a case is filed the clock runs. The earlier you act, the more options you have, including reinstatement, sale, short sale, or loss mitigation with the lender.
Is this calculator legal advice?
No. It is a planning estimate. Your reinstatement amount comes from the servicer, and your legal options depend on your case. Confirm with your attorney and lender.
Can I stop a foreclosure by selling my house?
Often yes, if there is enough time and enough value. Selling before the foreclosure sale can pay off the loan and let you keep any remaining equity, rather than losing the home at auction. Time matters, because options narrow once a judgment and a sale date are set.
What is the difference between reinstatement and payoff?
Reinstatement brings a defaulted loan current by paying the missed payments plus late fees, attorney fees, and costs, and the loan continues. Payoff ends the loan entirely by paying the full balance. Illinois gives a reinstatement window early in a foreclosure case that closes as the case proceeds.
This calculator is general information for Chicago-area owners, buyers, and investors. It is not legal, tax, lending, appraisal, or brokerage advice, and rates or rules can change. Verify figures with the appropriate professionals before money moves or documents are signed. Reinstatement figures come from your loan servicer and foreclosure timelines are governed by law. Confirm with your attorney and lender.