ILLINOIS FORECLOSURE ACTIVITY INCREASES 33 PERCENT IN SEPTEMBER

State’s Activity Up 11 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 26, 2007 – Illinois documented 8,257 foreclosure filings in September, a 33 percent increase from the previous month, and an 11 percent increase from September 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“The number of Illinois homeowners in some stage of foreclosure rose by double-digits in September as a shakeout among subprime mortgage holders continues to sweep the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “Eighty-two percent of the foreclosures for the month were Lis Pendens filings, meaning that the majority of homeowners having financial difficulty are just at the beginning of the foreclosure process.”

 

Illinois documented the seventh highest foreclosure total in the nation for September. The state’s foreclosure rate of one foreclosure filing for every 623 households ranked it 11th among the 50 states.

 

Total foreclosure filings in Illinois were well behind national leader California which tallied 51,259 foreclosure filings for September. The state also lagged far behind second-ranked Florida which reported 33,354 foreclosure filings for the month. Ohio came in third with 15,709 foreclosure filings. Texas reported the nation’s fourth highest foreclosure total with 14,681 filings entering some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in September were Michigan, Georgia, Arizona, Colorado and Nevada.

 

Cook County leads the state in foreclosure total

Cook County was the runaway leader in county foreclosure activity for September, reporting 4,324 foreclosure filings — 52 percent of the state total. Will County reported the second highest foreclosure total with 947 foreclosure filings. Du Page County tallied the third highest foreclosure total in the state with 528 foreclosure filings. Lake County came in fourth with a total 458 foreclosure filings. Kane County rounded out the state’s top five, reporting 454 filings in the foreclosure pipeline.

 

Will County posts state’s highest foreclosure rate

Will County posted the highest foreclosure rate in the state for September, one foreclosure filing for every 228 households — 2.7 times the state average and 2.4 times the national average. Williamson County posted the second highest foreclosure rate, one foreclosure filing for every 313 households — twice the state average and 1.8 times the national average. McHenry County posted the third highest rate, one foreclosure filing for every 326 households — 1.9 times the state average and 1.7 times the national average. Kane County came in fourth with a rate of one foreclosure filing for every 360 households, followed by Kankakee County with the fifth highest rate, one foreclosure filing for every 438 households.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 4 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                      Illinois Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Illinois

0

82

715

6,765

695

8,257

623

0.89

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

0

1

30,190

0.02

0.02

Alexander

0

0

0

0

0

0

n/a 

0.00

0.00

Bond

0

1

0

0

0

1

7,035

0.08

0.09

Boone

0

1

0

23

4

28

634

0.88

0.98

Brown

0

0

0

0

0

0

n/a 

0.00

0.00

Bureau

0

0

0

1

0

1

15,525

0.04

0.04

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Carroll

0

1

0

0

0

1

8,193

0.07

0.08

Cass

0

0

0

0

0

0

n/a 

0.00

0.00

Champaign

0

0

0

21

3

24

3356

0.17

0.19

Christian

0

0

0

0

0

0

n/a 

0.00

0.00

Clark

0

0

0

0

0

0

n/a 

0.00

0.00

Clay

0

0

0

0

0

0

n/a 

0.00

0.00

Clinton

0

0

0

4

1

5

2,933

0.19

0.21

Coles

0

0

0

0

1

1

23,312

0.02

0.03

Cook

0

41

393

3,568

322

4,324

496

1.12

1.26

Crawford

0

0

0

0

0

0

n/a 

0.00

0.00

Cumberland

0

0

0

0

0

0

n/a 

0.00

0.00

De Kalb

0

0

1

38

4

43

847

0.66

0.74

Dewitt

0

0

1

0

0

1

7,480

0.07

0.08

Douglas

0

0

0

0

0

0

n/a 

0.00

0.00

Du Page

0

5

37

460

26

528

669

0.83

0.93

Edgar

0

1

0

0

0

1

8,825

0.06

0.07

Edwards

0

0

0

0

0

0

n/a 

0.00

0.00

Effingham

0

0

0

0

0

0

n/a 

0.00

0.00

Fayette

0

0

0

0

0

0

n/a 

0.00

0.00

Ford

0

0

0

0

0

0

n/a 

0.00

0.00

Franklin

0

0

0

0

1

1

18,425

0.03

0.03

Fulton

0

0

0

1

0

1

16,399

0.03

0.04

Gallatin

0

0

0

0

0

0

n/a 

0.00

0.00

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Grundy

0

1

0

20

2

23

755

0.74

0.83

Hamilton

0

0

0

0

0

0

n/a 

0.00

0.00

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Hardin

0

0

0

0

0

0

n/a 

0.00

0.00

Henderson

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

1

1

1

1

4

5,400

0.10

0.12

Iroquois

0

1

0

0

0

1

13,580

0.04

0.05

Jackson

0

0

0

0

0

0

n/a 

0.00

0.00

Jasper

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

0

1

0

0

0

1

17,535

0.03

0.04

Jersey

0

0

0

0

0

0

n/a 

0.00

0.00

Jo Daviess

0

0

0

1

0

1

12,855

0.04

0.05

Johnson

0

0

0

0

0

0

n/a 

0.00

0.00

Kane

0

3

36

399

16

454

360

1.55

1.73

Kankakee

0

0

2

87

9

98

438

1.27

1.42

Kendall

0

1

6

45

10

62

454

1.23

1.37

Knox

0

0

1

1

0

2

11,988

0.05

0.05

La Salle

0

2

1

15

9

27

1,798

0.31

0.35

Lake

0

6

58

347

47

458

539

1.03

1.16

Lawrence

0

0

0

0

0

0

n/a 

0.00

0.00

Lee

0

0

1

0

0

1

14,668

0.04

0.04

Livingston

0

1

1

0

0

2

7,786

0.07

0.08

Logan

0

0

1

0

0

1

12,011

0.05

0.05

Macon

0

0

3

39

26

68

759

0.73

0.82

Macoupin

0

0

2

2

0

4

5,491

0.10

0.11

Madison

0

1

4

104

23

132

873

0.64

0.71

Marion

0

0

0

0

2

2

9,221

0.06

0.07

Marshall

0

0

0

1

0

1

6,112

0.09

0.10

Mason

0

0

1

0

0

1

7,102

0.08

0.09

Massac

0

0

0

0

0

0

n/a 

0.00

0.00

McDonough

0

0

1

0

0

1

14,110

0.04

0.04

McHenry

0

1

31

275

29

336

326

1.71

1.91

Mclean

0

0

0

1

2

3

22,174

0.03

0.03

Menard

0

0

0

0

0

0

n/a 

0.00

0.00

Mercer

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

0

0

1

6

0

7

1,747

0.32

0.36

Montgomery

0

0

0

0

0

0

n/a 

0.00

0.00

Morgan

0

0

0

0

2

2

7,811

0.07

0.08

Moultrie

0

0

0

0

0

0

n/a 

0.00

0.00

Ogle

0

1

0

0

1

2

10,779

0.05

0.06

Peoria

0

1

1

37

8

47

1,726

0.32

0.36

Perry

0

0

0

0

0

0

n/a 

0.00

0.00

Piatt

0

1

0

0

0

1

7,118

0.08

0.09

Pike

0

0

0

0

1

1

8,181

0.07

0.08

Pope

0

0

0

0

0

0

n/a 

0.00

0.00

Pulaski

0

0

0

0

0

0

n/a 

0.00

0.00

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Randolph

0

0

0

18

1

19

715

0.78

0.87

Richland

0

0

0

0

0

0

n/a 

0.00

0.00

Rock Island

0

0

2

34

22

58

1,121

0.50

0.56

Saint Clair

0

1

5

115

7

128

871

0.64

0.72

Saline

0

0

0

0

0

0

n/a 

0.00

0.00

Sangamon

0

1

1

1

3

6

14,888

0.04

0.04

Schuyler

0

0

0

0

0

0

n/a 

0.00

0.00

Scott

0

0

0

0

0

0

n/a 

0.00

0.00

Shelby

0

0

0

0

0

0

n/a 

0.00

0.00

Stark

0

0

0

0

0

0

n/a 

0.00

0.00

Stephenson

0

2

0

0

0

2

11,049

0.05

0.06

Tazewell

0

1

1

23

9

34

1,628

0.34

0.38

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Vermilion

0

0

1

0

1

2

18,414

0.03

0.03

Wabash

0

0

0

0

0

0

n/a 

0.00

0.00

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Wayne

0

0

0

0

1

1

8,211

0.07

0.08

White

0

0

0

0

0

0

n/a 

0.00

0.00

Whiteside

0

0

1

0

0

1

25,464

0.02

0.02

Will

0

1

105

756

85

947

228

2.44

2.73

Williamson

0

0

0

83

10

93

313

1.78

1.99

Winnebago

0

2

15

238

5

260

468

1.19

1.33

Woodford

0

1

0

0

1

2

7,260

0.08

0.09

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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