According to The Chicago Sun Times, Illinois had the fourth-highest number of foreclosure filings in January, with 18,120 properties receiving a foreclosure filing. This figure is up 25% from January 2009.
Interestingly enough, this represents a ten percent decrease in the number of filings when compared to December 2009. As the article notes, this is similar to a year ago, when December 2008's filings jumped significantly, with a decrease into January 2009. If the pattern holds, this means that we will see foreclosure filings increase in the coming months as loan modifications and other loss mitigation attempts fail.
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