Representing a creditor in foreclosure involves "so many steps, inquiries and decisions…that a casual discussion doesn't do the process justice," Edwardsville lawyer Lawrence O. Taliana writes in the May Commercial Banking, Collections, and Bankruptcy Law newsletter.

Nonetheless, he has crafted a step-by-step procedure for foreclosing on real estate to "minimize the chance that something gets overlooked." Here are the crucial first 10 steps on his list. For helpful context and more detail, see the summary of his article in the July Illinois Bar Journal.

1. Acknowledge receipt of the file

2. Find whether the real estate taxes have been paid

3. Make sure your client has offered loss mitigation programs to the borrower

4. If 12 CFR 1024.41 applies to your client (i.e., if it's a bank), don't start foreclosing until the account is four months delinquent

5. Make sure you have all required documents (the note, the mortgage, etc.)

6. Find out whether the borrower has filed for bankruptcy

7. Find out whether the property is residential

8. Find out whether the property is abandoned

9. If the property is residential, send the homeowner protection notice ASAP

10. Send the validation-of-debt notice to the borrower as required