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IL foreclosures jump

Thu, 15 Nov 2012 04:41:37 CST
By: AP

Illinois' home foreclosure rate rose 6 percent in October compared to the previous month, and was 19 percent higher than in October of last year. A report by RealtyTrac shows Illinois with 14,899 foreclosure filings in October. That represents one in every 356 housing units, the third-highest rate in the nation. Filings include default notices, auction-sale notices and bank repossessions. Florida had the nation's highest October foreclosure rate, one in every 312 housing units, followed by Nevada, with one in every 352 housing units. Also in the top five were Arizona and California. Nationally, October's foreclosure activity rose 3 percent from last month but fell 19 percent from October of 2011.

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