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October Foreclosures Rise 20 Percent In Illinois

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CHICAGO (CBS) — New figures show October home foreclosures up nearly 20 percent in Illinois, compared with a year ago.

Last month, RealtyTrac says Illinois ranked third in the nation for the foreclosure rate, WBBM Newsradio’s Regine Schlesinger reports.

Foreclosures here were up nearly 6 percent from September and 19 percent from October of last year.

That’s low though, compared with a 140 percent jump in New Jersey and a 123 percent climb in New York.

Both states deferred foreclosures last year.

Now, RealtyTrac says new moratoriums prompted by Superstorm Sandy will just prolong the housing recovery.

Nationwide, foreclosures were up 3 percent month-over-month but down 19 percent from a year ago.

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