Foreclosures Down From January, Up From Last Year

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File Photo Of Foreclosure Sign (AP Photo)

File Photo Of Foreclosure Sign (AP Photo)

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CHICAGO (CBS) — Home foreclosures in Illinois were down last month compared with January, but up significantly from the year before.

As WBBM Newsradio’s Regine Schlesinger reports, new figures from RealtyTrac show in February, foreclosures in Illinois were down more than 7 percent from the month before, but up 38 percent from a year earlier.

Nationally, by both measures, the foreclosure rate is down a bit. But housing remains a weak spot in the recovering economy.

RealtyTrac says the numbers point to a gradually rising tide of foreclosures, and some of the barriers that have stalled the wave are dropping.

Last month, 21 states, including Illinois, posted annual increases – the most in nearly a year and a half.

LISTEN: WBBM Newsradio’s Regine Schlesinger reports

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