Chicago metro-area foreclosure rate rises in June

Foreclosure rates in Chicago-Joliet-Naperville have increased for the month of June over the same period last year, according to CoreLogic.

According to newly released data from CoreLogic on foreclosures for the Chicago-Joliet-Naperville area, the rate of foreclosures among outstanding mortgage loans is 6.07 percent for the month of June 2011, an increase of 1.51 percentage points compared to June of 2010 when the rate was 4.56 percent. Foreclosure activity in the Chicago-Joliet-Naperville metro area is higher than the national foreclosure rate which was 3.46 percent for June 2011.

The mortgage delinquency rate decreased year-over-year. According to CoreLogic data for June 2011, 10.19 percent of mortgage loans were 90 days or more delinquent compared to 10.47 percent for the same period last year.

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