Middle-class neighborhoods hard hit as Chicago's foreclosures soar to nearly 20,000

The Chicago Sun-Times reports:

An explosion of failed mortgage loans in moderate-income and middle-class Chicago communities last year helped drive new foreclosure filings to nearly 20,000 here, a report released Monday by the nonprofit National Training and Information Center found.

The report also revealed that 75 percent of the mortgage loans were adjustable-rate or other high-risk loan products.

Great moments in that one party Blue town: Chicago.