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WJBD - Local News - Illinois Q3 Foreclosures Up 31-Percent Over 2011

Illinois Q3 Foreclosures Up 31-Percent Over 2011

By The Associated Press

CHICAGO (AP) - Illinois' third-quarter home foreclosure activity rose 31 percent compared to the same period last year.  A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 42,176 foreclosure filings from July through September. 

That represents one in every 126 housing units - the fourth-highest rate in the nation.  That rate is almost 4 percent higher than in the second quarter of this year. On a monthly basis, Illinois foreclosures dropped 20 percent in September compared to August.  Filings include default notices, auction-sale notices and bank repossessions.  

Florida had the nation's highest third-quarter foreclosure rate - one in every 117 housing units. Arizona and California also have foreclosure rates higher than Illinois.  Nationally, third-quarter foreclosure activity fell 13 percent compared to 2011.

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