Foreclosures Increased in Illinois in October

While some homeowners enjoyed a period of relief during the robo-signing scandal of last year and early this year, foreclosure rates are back on the rise.

According to a company that watches foreclosure trends nationwide, the state of Illinois saw a 9.7 increase in October from the previous month. In total, 12,522 properties received auction-sale notices, default notices or bank repossessions.

While this figure is high, it does represent a decrease from October of last year, right before the scandal broke. This figure is 26.2 percent lower than October 2010. This places Illinois seventh in the nation for foreclosure filings.

Nevada continues to lead the nation with the highest foreclosure ratings. The only states between Nevada and Illinois are Michigan, California, Florida, Arizona and Georgia.

Want to know what alternatives you have to foreclosure in the state of Illinois? If so, contact Bizar & Doyle, LLC and set up a time to speak with a Chicago bankruptcy lawyer from as soon as possible.