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Mixed Bag News When Tracking Foreclosures in the Midwest: Only California and Florida have surpassed Illinois in numbers of pre-foreclosures year-to-date.
Nationally, the persistent rise in defaults on subprime loans continues to fuel the surge in foreclosures. The foreclosure numbers news from the Midwest have recently been a mixed bag.
Pre-foreclosure filings for the region, which includes foreclosure-plagued Cook County, Illinois (Chicago), fell% to 8,182 in April from March, according to Foreclosures.com.
Total auction filings, the second step in the foreclosure process, climbed 17%, the company reported. But REOs, a reflection of the numbers of foreclosure that have been completed, dropped 19% for April to 11,177.
Year-to-date the picture was more dismal as compared with the same time a year ago. Region-wide in the Midwest, pre-foreclosure filings, 28,789, were up 87%; auction filings, 18,976, climbed 275%, and REOs, 47,196, were up 23% for the year, said Alexis McGee, president and co-founder of…
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Source: HighBeam Research, Mixed Bag News When Tracking Foreclosures in the Midwest: Only...
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