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By Mary Ellen Podmolik Posted yesterday at 8:36 a.m.
Bank repossessions of foreclosed homes in the Chicago region soared almost 20 percent, to more than 45,000 properties in 2010, despite various government and lender programs designed to keep people in their properties and a slowdown in fourth-quarter activity due to investigations of foreclosure procedures, new data show.
According to RealtyTrac, the online marketplace for foreclosure properties, 45,555 homes became bank-owned last year in the area between the Wisconsin border and northwest Indiana.
Also during the year, mortgage servicers filed 83,429 initial notices of default, the first step in the foreclosure process.
via Chicago-area foreclosures soar 20% in 2010 | Chicago Breaking Business.
despite various government and lender programs designed to keep people in their properties and a slowdown in fourth-quarter activity , due to investigations of foreclosure procedures, due to investigations of foreclosure procedures, new data show.
is not acceptable, modification in the new data show is needed.