Illinois Foreclosures Decrease by 33% Last Month

According to RealtyTrac.com, a website that shows foreclosed properties around the country, the state of Illinois enjoyed a 33 percent decrease in new foreclosure filings last month.  However, even this amount of progress leaves the state as the third in the nation for new bankruptcy filings, mainly due to the lagging economy and high levels of unemployment.

Just behind California and Florida, Illinois had 5,568 new filings in February.  In the Chicago metropolitan area, including nine counties in Illinois, four counties in Indiana and Kenosha County in Wisconsin, all saw new foreclosures drop 11.4 percent.

Neighboring state Indiana is listed at number 28 in the nation but showed an 18 percent decrease in new filings for last month.

Are you trying to avoidforeclosure? If so, it is in your best interests to contact our law firm and speak with a Chicago bankruptcy lawyer who has handled prior foreclosure cases.  We can advise you of your rights and inform you of alternatives to foreclosure.