Illinois Q3 foreclosures up 31 percent over 2011

Associated Press

CHICAGO (AP) — Illinois' third-quarter home foreclosure activity rose 31 percent compared to the same period last year.

A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 42,176 foreclosure filings from July through September. That represents one in every 126 housing units — the fourth-highest rate in the nation.

That rate is almost 4 percent higher than in the second quarter of this year. On a monthly basis, Illinois foreclosures dropped 20 percent in September compared to August.

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

Florida had the nation's highest third-quarter foreclosure rate — one in every 117 housing units. Arizona and California also have foreclosure rates higher than Illinois.

Nationally, third-quarter foreclosure activity fell 13 percent compared to 2011.