Illinois foreclosures on the rise - CBS4 - WHBF Quad Cities, IL-IA News Weather Sports

Illinois foreclosures on the rise

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by CBS4 Newsroom
newsroom@cbs4qc.com

(AP)  Illinois' third-quarter home foreclosure activity rose 31 percent compared to the same period last year.  A report released Thursday by Irvine, California 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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