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Foreclosure filings drop in B/N

Thu, 04 Apr 2013 18:28:08 CDT
By: Charlie Schlenker

McLean County is starting to see progress in the number of foreclosure filings. Ken Springer, the Director of Research for the Economic Development Council says there were 485 foreclosure filings last year the second year in a row the number has declined.

Springer says he is more concerned about statewide unemployment rates, which are showing signs of a softer economy than both the nation and surrounding states. Illinois and the U.S. jobless trends started diverging in late 2011 and even Michigan has shown significantly more improvement than Illinois. Springer says the pace of Illinois' recovery is glacial, while state's like Iowa are back to full employment.

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