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| Economy |
| Unlikely Midwest state [IL] is hotspot for banks seizing families' homes as foreclosure signs plague streets |
| 2025-11-18 |
| [Daily Mail, where America gets its news] Illinois homeowners are facing more than just strong winds — they're weathering a financial storm. New national data released this week showed 36,766 foreclosure filings in October alone — up 19 percent year-on-year — but a deeper dive reveals one unexpected Midwestern state has become ground zero for the crisis. Foreclosures are usually concentrated in Sun Belt trouble spots like Florida, California and Nevada. But analysts were stunned to see Illinois emerge as one of the worst-hit states last month. In October, one in every 2,570 Illinois homes had a foreclosure filing — a total of 2,118 properties. That includes 1,252 foreclosure starts (when the paperwork is first began) and 187 completed repossessions (when the foreclosure process is completed). Illinois saw fewer than 1,900 filings in September, and just 1,597 last October. 'We've definitely noticed an uptick,' said Jason Merel, a realtor covering Chicago and the northern suburbs. 'Illinois tends to show higher numbers because we're a judicial foreclosure state. The process takes longer, so the backlog looks bigger.' |
| Posted by:Skidmark |
| #1 |
| Posted by: Mullah Richard 2025-11-18 06:48 |