Illinois Home Foreclosures Rise Nearly 10 Percent In October
CHICAGO (AP) — Illinois home foreclosure activity rose 9.7 percent in October compared to the previous month.
A report released Thursday by RealtyTrac shows Illinois with 12,522 foreclosure filings last month. Filings include default notices, auction-sale notices and bank repossessions.
The filings represent one in every 423 housing units in the state. That rate is 26.2 percent lower than in October of last year and seventh-highest nationally.
RealtyTrac says the increase in many states likely is due to lenders resolving paperwork processing problems that had delayed many foreclosures. But it says new state court rulings and laws create uncertainty that threatens to delay a real estate recovery.
Nevada continued to have the nation's highest foreclosure rate.
Other states with foreclosure rates higher than Illinois are Arizona, California, Florida, Georgia and Michigan.
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