Illinois third in foreclosures despite national improvement

Foreclosure starts in Illinois are on par with those in other areas, but the state’s court-supervised foreclosure system continues to bog down properties in the process.

 

Almost 7.5 percent of mortgage loans on one- to four-unit residential properties in Illinois were in foreclosure at the end of March, compared with a national average of 4.39 percent, according to data released Wednesday by the Mortgage Bankers Association. Read more here.