The Chicago-Naperville-Joliet metropolitan area had the highest home foreclosure rate in Illinois for the first half of the year.
The Chicago-Naperville-Joliet metropolitan area had the highest home foreclosure rate in Illinois for the first half of the year. A report released Thursday by Irvine, Calif.-based RealtyTrac show more than 63,500 foreclosures filings from January through June. That’s one in every 59 houses and 30 percent higher than the same period last year. Foreclosure activity was up 15 percent in the Rockford area and 40 percent in the metro area that includes Rock Island and Moline and Davenport, Iowa. Increases are blamed on growing unemployment rather than risky mortgages. On the bright side, foreclosure activity fell 22 percent in the Peoria area, 29 percent around Springfield and 11 percent in the Champaign-Urbana area from last year. ______ Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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