Illinois Foreclosures Fall 24 Percent In November
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CHICAGO (AP) – Illinois home foreclosure activity fell almost 24 percent in November compared to the previous month.
A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 12,941 foreclosure filings last month. Filings include default notices, auction-sale notices and bank repossessions.
The filings represent one in every 408 housing units in the state. That rate is 21 percent lower than in November last year and ninth-highest nationally.
RealtyTrac says much of the decrease can be attributed to lenders and servicers halting foreclosures while they revamp procedures following a controversy over questionable paperwork.
Nevada continued to have the nation’s highest foreclosure rate — one in every 99 housing units.
Other states with foreclosure rates higher than Illinois were Arizona, California, Florida, Georgia, Idaho, Michigan and Utah.
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