Foreclosure Delays Cease in Cook County

Any delays related to stalled foreclosure filings appear to be completed in Cook County, Illinois.

During the last quarter of 2010 and the first three months of this year, completed foreclosures increased 10.5 percent. This amounts to 2,800 properties that are now bank-owned, according to the Woodstock Institute. Yet when compared to the same period last year, the number of completed foreclosure auctions decreased by 54.3 percent.

Foreclosure filings in all parts of Cook County showed double-digit increases, ranging from 10.4 percent in northwest Cook County to 18.2 percent in north Cook County. Within the city of Chicago itself, there was just a 1 percent increase when compared to the same period one year ago. In fact, lower-income neighborhoods showed a decrease in filings while more affluent areas saw a surge in foreclosure filings. Of these, Chicago's Lakeview neighborhood alone saw a 60.3 percent increase.

Have you received notice of foreclosure?  Do you wish to halt proceedings?  If so, contact us to discuss your options with a Chicago bankruptcy lawyer.