Sen. Linda Holmes supports SB2951 establishing 10-year mortgage debt collection window

During the 104th General Assembly on May 31, 2026, Sen. Linda Holmes (D-42nd) voted Yes on SB2951, which introduces a 10-year period for collecting mortgage debt, as noted by the Illinois Senate. The measure received unanimous approval in the Senate with a 58-0 vote.

The legislation describes its purpose as "MORTGAGE FORECLOSURE TIME."

The following summary is based on the bill's language and may offer clarification of its key details.

This legislation sets a 10-year time limit to initiate efforts to collect debts secured by a mortgage or deed of trust, mirroring the existing 10-year statute of limitation for foreclosures and other written contracts. Additionally, it updates probate law: when selling or mortgaging real estate from an estate, a court will not order a sale if secured creditors cannot be fully paid—unless those creditors consent to a partial payout. In that case, the estate's administration does not require the sale. The bill becomes effective upon enactment.

Regarding SB2951's progress, the official record shows: 'House Committee Amendment No. 1 Senate Concurs'.

Holmes earned her BA from National College of Education in 1984.

A Democrat, Holmes was first elected in 2007 as the state senator for the 42nd District, succeeding Phyllis Petka.

In Illinois, each bill follows a structured legislative review process—starting with its introduction in the House or Senate, proceeding to committee scrutiny, debates on the chamber floor, and votes in both houses prior to being sent to the governor. Every General Assembly covers two years, during which thousands of proposals are filed but only some are ultimately enacted.