Illinois home foreclosures up 5 percent in May - KMOV.com

Illinois home foreclosures up 5 percent in May

CHICAGO (AP) -- Illinois home foreclosure activity rose more than 5 percent in May compared to the previous month.  

A report released Thursday by Irvine, Calif.-based RealtyTrac shows Illinois with 10,574 foreclosure filings last month. Filings include default notices, auction-sale notices and bank repossessions.  

The filings represent one in every 500 housing units in the state. That rate is almost 30 percent lower than in May of last year and ninth-highest nationally. 

Foreclosures had fallen more than 16 percent in April compared to March, but RealtyTrac attributed decreases in many states to paperwork processing delays rather than a housing recovery.  

Nevada continued to have the nation's highest foreclosure rate -- one in every 103 housing units. 

Other states with foreclosure rates higher than Illinois are Arizona, California, Florida, Georgia, Idaho, Michigan and Utah. 

(Copyright 2011 by The Associated Press.  All Rights Reserved.)
 

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