Wednesday, April 25, 2007

Illinois foreclosure filings up almost 62% in first qtr.

Crain's Chicago Business reports:
The number of Illinois homeowners in some stage of foreclosure rose nearly 62% in the first three months of this year compared to the same period last year, as a shakeout among subprime mortgage holders continues to sweep the state and the nation.

One out of every 221 Illinois households — a total of 22,121 — was in some stage of foreclosure in the first quarter, according to data released Wednesday by RealtyTrac Inc., a California-based company that tracks foreclosures.

That puts Illinois in 12th place in the U.S. Topping the list was Nevada, where one out every 75 households was in some stage of foreclosure in the first quarter, 3.5 times the national average.

In Chicago, one out of every 163 households was in some stage of foreclosure during the period, putting it in 28th place among metro areas. Detroit had the highest rate for metro areas: one out of every 51 homes, or five times the national average.

Nationwide, one out of every 264 households was in some stage of foreclosure, the highest quarterly rate since RealtyTrac began compiling the data 27 months ago.
Some interesting numbers.