Surge in Illinois foreclosures

April 16, 2009 7:40:42 PM PDT
There's a surge in the number of homeowners getting foreclosure notices and Illinois is one of the hardest hit states.RealtyTrac says the state's rate is up 68 percent compared to the first quarter of last year.

The online company tracks foreclosure information all over the country and finds Illinois is 5th in foreclosure filing rates.

RealtyTrac points out that not all homeowners who receive notices will lose their homes. But lenders are beginning to lift temporary moratoriums against delinquent mortgage holders.


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