Zabrina Worthy frets when she talks about losing her house. She never saw how it could happen to her the way it did. Her voice cracked with tears at the first words she spoke to me, over the telephone: “I completely lost everything I had.” When they boarded her house, she didn’t just lose her home. Her computer, her furniture, her business — all the things she and her three children owned — were locked inside.
via Not a Wonderful Life: The Effects of Aggressive Foreclosure – Gapers Block Mechanics | Chicago.
Three reports issued Monday paint a grim picture of the Chicago area’s foreclosure crisis
November 22, 2010|By Mary Ellen Podmolik, Tribune reporter
Three reports issued Monday paint a grim picture of the Chicago area’s foreclosure crisis and signal that the local housing market’s recovery continues to bump along the bottom.
The uncertainty is likely to become more evident Tuesday, when the Illinois Association of Realtors reports existing-home sales for October. Preliminary figures show that sales of single-family homes and condos in the Chicago area fell about 14 percent in October from September, and that sales of distressed properties fell more than 22 percent from the previous month, according to data from the Chicago Association of Realtors.
via Numbers don’t add up to housing recovery – Chicago Tribune.
Chicago’s once-hot neighborhoods are getting hammered by foreclosures.
In Chicago’s Loop, for instance, 73 foreclosure filings were made during the three months ended Sept. 30. Combine that with filings made earlier in the year and foreclosures are up almost 77 percent from the first nine months of 2009, to 205 properties. The Near North, Near South and Near West sides, as well as Lincoln Park, also saw double-digit increases, according to a third-quarter foreclosure report scheduled to be released Thursday by the Woodstock Institute.
via Chicago foreclosures: Foreclosures put chill on hot Chicago neighborhoods – chicagotribune.com.