Illinois foreclosure rates third-highest in the nation

By WEEK Producer

Illinois foreclosure rates third-highest in the nation

November 15, 2012 Updated Nov 15, 2012 at 4:32 PM CDT

CENTRAL ILLINOIS -- Foreclosure rates are on the rise in the land of Lincoln.

According to a report by California based Realty-Trac, Illinois's foreclosure rate rose 6 percent compared to last month, and is 19 percent higher than in October of last year.

In the state, one out of every 356 homes are in foreclosure, the third-highest rate in the nation.

Florida had the nation's highest October foreclosure rate--one in every 312 housing units.

Nationally, October's foreclosure rate rose 3 percent from last month, but fell 19 percent from October of 2011.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.