Foreclosures Escalate Nationally

Last quarter saw an increase in national foreclosures when compared to the two quarters preceding it.

While this increase is certainly not wanted, it was not a surprise to most in the financial industry. It was only a matter of time before mortgage providers were given the approval to resume filings after the robo-signing scandal of last year. According to one statistics provider, new foreclosures comprised 1.08 percent of all new loans over the past quarter.

While the increase was slight, from 0.96 to 1.08 percent, it is enough to get homeowner associations nervous. With declines lasting from September 2010 to May, the lowest recorded month in five years, it was inevitable that rates would start to rise again once banks were approved by the government to move ahead.

Are you in danger of losing your home to foreclosure in Illinois? Find out what solutions are available to you by contacting Bizar & Doyle, LLC and setting up a time to speak with one of our Chicago bankruptcy lawyers.