The state of Illinois now claims an unenviable distinction – it now leads the nation in home foreclosures.
New figures suggest lenders are catching up on Chicago-area home foreclosures after last year’s robo-signing scandal forestalled some of them.
Home foreclosures in Illinois were down last month compared with January, but up significantly from the year before.
Illinois has found its way onto the list of the top 10 states with the highest foreclosure rates.
Illinois home foreclosure activity rose 9.7 percent in October compared to the previous month.
The latest figures from RealtyTrac show that in Illinois and nationwide, foreclosed homes now account for about a third of all home sales.
Home foreclosures in Illinois and nationally dropped nearly 30 percent in the first half of this year. But the experts say it’s not because of an improving housing market.
Foreclosures are at the lowest level since 2006, but that doesn’t really tell the story.
The latest housing figures appear encouraging, both in Illinois and nationwide.
The Land of Lincoln surpassed Michigan in property foreclosures, tallying 151,304 filings to Michigan’s 135,874.
There’s a gloomy forecast today about the housing market.
New data suggest the Chicago suburbs are heading for more empty homes as a consequence of the foreclosure crisis.
One in every 139 U.S. housing units received a foreclosure filing during the 3rd quarter.