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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.

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