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WJBD - Local News - Illinois Home Foreclosure Rate Rises Six-Percent

Illinois Home Foreclosure Rate Rises Six-Percent

By The Associated Press

CHICAGO (AP) - Illinois' home foreclosure rate rose 6 percent in October compared to the previous month and was 19 percent higher than in October of last year.  A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 14,899 foreclosure filings in October. That represents one in every 356 housing units - the third-highest rate in the nation.  

Filings include default notices, auction-sale notices and bank repossessions.  Florida had the nation's highest October foreclosure rate - one in every 312 housing units, followed by Nevada with one in every 352 housing units. Also in the top five were Arizona and California.  Nationally, October's foreclosure activity rose 3 percent from last month but fell 19 percent from October of 2011.

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