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Illinois home foreclosure rate rises 6 percent

Published: Thursday, Nov. 15, 2012 6:00 a.m. CDT • Updated: Friday, Nov. 16, 2012 9:07 p.m. CDT

CHICAGO (AP) – Illinois' home foreclosure rate rose 6 percent in October compared to the previous month and was 19 percent higher than in October of last year.

A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 14,899 foreclosure filings in October. That represents one in every 356 housing units — the third-highest rate in the nation.

Filings include default notices, auction-sale notices and bank repossessions.

Florida had the nation's highest October foreclosure rate — one in every 312 housing units, followed by Nevada with one in every 352 housing units. Also in the top five were Arizona and California.

Nationally, October's foreclosure activity rose 3 percent from last month but fell 19 percent from October of 2011.

 

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