Inside these posts: Home foreclosures

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Illinois foreclosure numbers fall in February

A foreclosed home up for sale in Elgin in 2009. (Scott Olson/Getty Images)

The number of homes in foreclosure plummeted in both Illinois and the U.S. in February, but despite the slowing flow, many analysts believe the foreclosure pipeline has not turned off yet.

In Illinois, 5,568 homeowners received notices that their mortgages had fallen into default and foreclosure proceedings had been initiated, while 1,471 properties were scheduled to go to auction and another 2,553 homes were repossessed by lenders, RealtyTrac said Thursday.

Altogether, the 9,592 notices related to a foreclosure last month showed a decline of 27.13 from January and 44.59 percent from February 2010. Get the full story »

Sportscaster faces foreclosure on Evanston home

From Crain’s Real Estate Daily | Sportscaster Mike Adamle faces a foreclosure suit on his Evanston home after failing to pay off a $1.1-million loan that matured in August. According to a complaint filed by PrivateBank & Trust Co., Adamle and his wife, Kim, owe the bank about 30 percent more than the $920,000 than they paid in July 2005 for the home on Lincoln Street near Ryan Field.

JPMorgan wants foreclosure problem fixed quickly

JPMorgan Chase & Co.’s chief financial officer on Wednesday joined a growing chorus of industry executives calling for a speedy resolution of the probes into the industry’s foreclosure practices as a settlement may be on the horizon. Get the full story »

Homeownership at lowest level in a decade

(AP Photo/Paul Sakuma)

The nation’s homeownership rate is at the lowest level in more than a decade, hampered by a rise in foreclosures and weak demand for housing.

The percentage of households that owned their homes was unchanged at 66.9 percent in the July-September quarter, the Census Bureau said Tuesday. That’s the same as the April-June quarter.

The last time the rate was lower was in 1999, when the rate was 66.7 percent. Get the full story »

Cook County sheriff to halt foreclosures again

By Becky Schlikerman | Cook County Sheriff Tom Dart is ordering his deputies to stop carrying out mortgage foreclosure evictions — again. Dart did the same two years ago after finding out many of those his deputies were forcing from their homes had paid their rent faithfully and didn’t know their landlords were having financial problems.

BofA prepares to restart foreclosures

Bank of America says it plans to resume foreclosures in 23 states next week and will refile paperwork for 102,000 cases. Get the full story »