Illinois home foreclosure activity spiked almost 35 percent in July as a state law that had stalled foreclosures expired.
Illinois home foreclosure activity spiked almost 35 percent in July as a state law that had stalled foreclosures expired. A report released Thursday by Irvine, Calif.-based RealtyTrac shows 14,524 foreclosure filings in Illinois last month. Filings include default notices, auction-sale notices and bank repossessions. One in every 361 housing units in the state received a foreclosure filing in July. That’s 63 percent higher than July of last year and eighth-highest nationally. Nevada again had the nation’s highest foreclosure rate — one in every 56 housing units or more than six times the national average. Other states with higher foreclosure rates than Illinois were Arizona, California, Florida, Georgia, Idaho and Utah. ______ Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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