Illinois In Top 10 for Foreclosures

Posted at 6:25 AM, Jul. 31, 2009

According to RealtyTrac who monitors foreclosure activity, Illinois ranks number 8 out of 10 for the highest foreclosures, with well over 68,000 files against homeowners.  California, Florida and Arizona were the top three.

Nation wide, statistics show an increase in filings in the first six months of 2009; up 9% since the previous six month period and a total increase of 15% since 2008.  That breaks down to 1 in every 84 homes are in trouble. 

Leading experts state that unemployment and oppressed housing prices have been the leading cause.  Read more.