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Chicago foreclosure rate drops, mortgage delinquency rate rises

by Joe Zekas on 8/23/12

According to newly released data from CoreLogic, June 2012 foreclosure rates in Chicago-Joliet-Naperville decreased over the same period last year. Per CoreLogic’s news release:

The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans was 5.96 percent for the month of June 2012, a decrease of 0.13 percentage points compared to June of 2011 when the rate was 6.09 percent. Foreclosure activity in Chicago-Joliet-Naperville was higher than the national foreclosure rate which was 3.27 percent for June 2012.

Also in Chicago-Joliet-Naperville, the mortgage delinquency rate increased. According to CoreLogic data for June 2012, 10.32 percent of mortgage loans were 90 days or more delinquent compared to 10.24 percent for the same period last year, representing an increase of 0.08 percentage points.

CoreLogic’s foreclosure rate measures the percentage of mortgage loans in some stage of the foreclosure process.

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