Feb
15

Chicago Foreclosures Down 35% from a Year Ago

February 15, 2014
Chicago foreclosures

A foreclosed property on Erie Street in Chicago. (Terrence Antonio James/Chicago Tribune / December 13, 2012)

Foreclosure activity in the Chicago area rose about 3 percent in January from a month earlier but was down almost 35 percent from a year ago, according to RealtyTrac.

Some 8,421 homeowners received notice last month that their mortgage had fallen into default, that an auction of the property was scheduled, or that it had been repossessed by a lender. That compared with 8,183 notices filed in December and almost 13,000 in January 2013. More than 1,900 properties became bank-owned last month, including 1,070 in Cook County.

RealtyTrac’s definition of the Chicago area extends from Kenosha, Wis., to Northwest Indiana.

Nationally, overall foreclosure activity increased 8 percent in January, from December. Still, foreclosure notices were 18 percent lower than in January 2013.

This post was originally published by the Chicago Tribune on Feb. 13, 2014.

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