Illinois Takes Lead for Foreclosure Rate, REOs Continue to Fall REO Institute's Topic
By James A. Browning, MRE REOCertified(R) SSCertified
(Browning Real Estate School/REO Institute)
Illinois Takes Lead for Foreclosure Rate, REOs Continue to Fall 09/13/2012 By: Esther Cho A new state took the spotlight in RealtyTrac’s Foreclosure Market Report for August. For the first time since January 2005, which is when RealtyTrac began the report, Illinois ranked number one for its foreclosure rate. In August, one in every 298 Illinois housing units had a foreclosure filing. The state also saw foreclosure activity hike 29 percent from July, and on a yearly basis, foreclosure starts were up 18 percent, scheduled foreclosure auctions shot up 116 percent, and bank repossessions increased by 41 percent. Florida ranked second, where one in every 328 housing units had a foreclosure filing, followed by California, Arizona, and Nevada The increases in Florida and Illinois pushed ...
Comments
0