Foreclosures Picking Up in Chicago Area

After several financial institutions were charged with pushing hundreds of foreclosures through without the proper documentation, the rate of foreclosures dropped across the country. Now that these banks have gotten back onto track, the foreclosure rate is starting to rise once again, especially in Chicago, Illinois.

According to a company that monitors foreclosure filings across the country, the Chicago area alone saw a 19.5 percent increase in foreclosure filings after July of this year. Before that month, filings were actually down 28.2 percent when compared to August of the previous year. In the area, this amounted to 11,226 notices being sent meaning 1 out of every 337 homes was subjected to foreclosure.

The figures statewide were even worse. Last month, 1 in every 424 homes was sent foreclosure notices, amounting to 12,493 homes across the state.

Are you hoping to keep your home in Illinois? If so, contact Bizar & Doyle, LLC now to get representation from an experienced Chicago foreclosure attorney. With our help, it is possible to save your home!