Chicago-area foreclosure rates down sharply

Foreclosure rates in Chicago-Joliet-Naperville decreased for the month of April over the same period last year, according to newly released data from CoreLogic.

The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans was 4.89 percent for the month of April 2013, a decrease of 1.63 percentage points compared to April of 2012 when the rate was 6.52 percent. Foreclosure activity in Chicago-Joliet-Naperville was higher than the national foreclosure rate, which was 2.65 percent for April 2013.

The foreclosure rate measures the percentage of loans in some stage of the foreclosure process.

Also in Chicago-Joliet-Naperville, the mortgage delinquency rate decreased. According to CoreLogic data for April 2013, 9.01 percent of mortgage loans were 90 days or more delinquent compared to 10.62 percent for the same period last year, representing a decrease of 1.61 percentage points.

(Visited 165 times, 1 visits today)