Illinois Foreclosures Still High in Chicago and Beyond
The state of Illinois continues to experience the weight of the foreclosure boom, as new statistics show that the number of Illinois foreclosures increased 36% in 2007 over the 2006 total. Illinois foreclosure homes totals have not reached record highs like other parts of the country, but the market for homes there has still been severely affected. Median home values continue to fall due to a flooded market. In addition, more foreclosed properties are predicted to come about due to adjustable rate mortgages set to reset during the 2008 year.
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New York Foreclosures Increasing Rapidly, Experts Predict More to Come
While many states have experienced huge booms in foreclosures over the past year that are now showing signs of either evening out or beginning to drop off, New York foreclosures seem to be doing the opposite. In 2006, the total amount of New York foreclosure homes was enough to make New York the state with the fifth highest foreclosure rate in the country. Many weren’t sure where the market was going to go from there, but in 2007, it got decidedly worse.
Number of Indiana Foreclosures Finally drops
For some time now, Indiana has been one of the states at the forefront of the foreclosure epidemic that has been sweeping the nation, but now it seems that Indiana foreclosures may finally be on the way back down. As of December 2007, the total number of Indiana foreclosure homes was down 8% from the same time during December of 2006. This drop, while only in the single digits, is quite remarkable, considering that the national foreclosure index increased greatly during 2007. Some reports have the national foreclosed houses inventory increasing by nearly 90%.
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