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Illinois Ranks Third Nationwide in Foreclosures

First-quarter foreclosure activity in Illinois declined 2 percent from the previous quarter and was down 4.5 percent from a year earlier, but the state continued to have one of the nation's highest foreclosure rates.

According to a report from RealtyTrac, 35,957 Illinois properties received a foreclosure notice in the first quarter, putting the state behind only Florida and Nevada in terms of foreclosure activity. The firm also found that it takes an average of 720 days to complete a foreclosure in Illinois.

In the Chicago area, first-quarter foreclosure activity fell in Cook County, both compared with 2012's fourth quarter and with a year ago. DuPage County was the only county to see foreclosure activity rise from its previous quarter and year-ago comparisons.

Nationally, first-quarter foreclosure filings fell to their lowest level since 2007's second quarter. On a monthly basis, foreclosure filings in March were reported on 152,500 properties, down 1 percent from February and 23 percent from March 2012.

04/10/2013 - Mary Ellen Podmolik Tribune reporter


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