By Mary Ellen Podmolik | While foreclosure activity in troubled states like California, Arizona and Nevada posted year-over-year declines last month, Illinois had a 21.76 percent increase in foreclosure filings in February.
Still, Illinois homeowners received 17 percent fewer default notices on their properties than the number of default notices filed in January.
New data scheduled to be released Thursday by RealtyTrac shows that 17,312 homeowners received a foreclosure filing in January. Those included 6,261 properties that received default notices, 6,454 that were notified of a pending sheriff’s sale and 4,597 homes that were foreclosed upon and repurchased by their mortgage lenders. Overall, February foreclosure filings in Illinois were down 4.46 percent from January.
Nationally, foreclosure filings decreased 2 percent from January and 6
percent from February 2009, the smallest year-over-year increase since
January 2006 when the firm began tracking year-over-year foreclosure
activity. However, February was also the 50th consecutive month of
increased foreclosure filings and the 12th straight month that more
than 300,000 properties received a foreclosure notice.
”This leveling of the foreclosure trend is not necessarily evidence
that fewer homeowners are in distress and at risk for foreclosure, but
rather that foreclosure prevention programs, legislation and other
processing delays are in effect capping monthly foreclosure activity,
albeit at a historically high level that will likely continue for an
extended period,” said James Saccacio, chief executive of the firm, an
online marketplace of properties.
RealtyTrac also noted that severe winter weather may have temporarily slowed filings in some Northeastern Mid-Atlantic states.
Like this is supposed to be news. In a state where our legislature bends over backwards to lick the backsides of ANY Bank, Insurance company, or financial corporation that is willing to toss a few campaign alms before the swine gathered at the capital trough?
Consider this for a moment if you will. For over half a century the people of Illinois have been systematically sold down the river by a long line of politicians OF BOTH PARTIES, and sold out to any and every finance outfit that was willing to pay. Automotive insurance policies now only cover about 75% of the note on a wrecked automobile, and if you don’t purchase special supplemental insurance to cover the “Gap” then you can have your car destroyed, and still be in debt for it with NO compensation for your lost investment. Courtesy of the insurance friendly Illinois General Assembly.
Health insurance companies can discount what they pay to health care providers who then turn around and bill the difference right back to you. All Illegal of course but a blind eye is turned to the practice. Courtesy of the Illinois General Assembly.
A seat belt law that was NEVER supposed to be allowed as a stand alone traffic citation but is because the General Assembly reneged on their promise 5 months after they made it and got our approval for the law.
A lottery program that was supposed to provide additional funding for Illinois schools, but the moment the law went into effect the General Assembly CUT the state education budget by the EXACT amount that the lottery was bringing in.
Now they say that they’re 11 BILLION dollars in the red and they want to do WHAT? Oh yeah, RAISE YOUR TAXES by a third and cut the legs out from under your children s schools while they do it.
Haven’t we already been lied to, swindled, defrauded and basically IGNORED for about long enough. Is there ANYBODY out there who would like to see this Cr@p come to an end?
Well I’m Jim Griffin and you’ll find my name ON that list of lieutenant Governor candidates. Not that I have even the faintest hope of ever getting the nod, but it’s time for WE THE PEOPLE, to stand up, step up, and put an END to this lying, thieving, swindling, government enriching, budget bankrupting, BULL$H!T! Take a STAND! Write your assemblyman, THREATEN his fat A$$ if you have too, but let them know that this BS has to end NOW!
Hey Griff….do you have any ideas/solutions or is your post more hot air from a maybe politician? Cuz right now, you sound just like the current set of hacks we already have in office who just sit and point fingers at each other. Pointing out the obvious but too scared to make the real CHOICES necessary to solve the issues. Your assessment is correct, you’ll stay on the list of potential Lt. Govenors as long as all you do is rant about the issues and place blame on others. You need to show us that you have both the intelligence and the guts to make the hard choices that are necessary to pull us out of the deficit mess we are in.
Golly Jim, threaten people to get your way?! That is why you should never be elected to any position. Not even dog catcher !!
What this shows me is that no corrective action is being taken. We have spent BILLIONS on stimulis packages and morgaged our kids and their grand kids futures and for what. So we can spend a year trying to push the worse healthcare bill ever forward. Where is our priorities? WE have double digit unemployment, people are losing their homes and we are forcing a this bill that will bankrupt America. The jobs that are being created ar tempt jobs (census workers ) and government jobs.
This has got to stop. When are they going to start listening to the people?
Vote for REAL CHANGE in 2010 and 2012.
With the foreclosures going up in IL, did any politicians stop to think that maybe people are just defaulting on there houses because they were unable to sell the house and want to MOVE OUT OF ILLINOIS?
Maybe they just handed the keys over and packed up and moved out.
My wife and I are looking to get out of this state.
Woot Woot !!!
Ah wait, this sucks !
And what answers are forthcoming from our governor and out-of-touch Legislature? Pile more taxes on the relatively few Illinoisans who are still working and are dutifully paying their mortgages. Talk about a Doomsday scenario. Increase taxes, force more people into bankruptcy, drive more productive people and businesses to leave the state, and do nothing about the corrupt, incompetent political leadership or the utter boondoggle that passes for government that got this state into the mess it is.
And all of those foreclosures will have to be sold before new construction can begin!
What?? February was the 50th consecutive month of increased foreclosure filings? That’s almost four years! So this started when Bush was in the White House and republicans controled both the Houe and Senate? This doesn’t make sense because tea bagg’in conservatives have brainwashed me into believing it’s all Obama’s fault! Gotta get back on the koolaid. That’s better. Yes, much better. Everything Is Obama’s Fault.
Things might have started with Bush, but the man in charge has yet to keep one promise he made while campaigning. His own party is scared with what he is doing. He is still on the campaign trail trying to win votes while all his loyal followers are worried about their own jobs this fall. I agree with many that Bush didn’t get everything right, but remember it was a Democratic house and Senate his last two years in office that would not allow him to complete his agenda. All they wanted is to get their person in. Now we have a person with NO experience of running anything trying to be a friend to everyone. I bet if you read off the teleprompter as good as he does, you would be president.
This man has to go as well as many whom we put in. In the mean time all you voters out there, don’t just be one side of the isle or the other. Make sure what you are voting for is for everyone. Read the laws that are being past. Understand them.
“We the People”, remember that saying. It hasn’t change to ” This is what I want”. Last time I checked, it is MY 30+% in taxes that is paying for these people to make decisions on my behalf. WELL I WANT MY MONEY BACK.
The salaries of the our do-nothing legislators should be slashed by half until our state gets back on track. Let them share our pain.
Hey, state lawmakers: Any of you want to guarantee your reelection this fall? Voluntarily return more than half of your salary to the state treasury and renounce any claim you have to any sort of pension through the state of Illinois. Then, call on all of your colleagues to do the same, and sponsor a bill stripping state pensions from all current and future elected officials. You will instantly become the only politician in this state with any credibility. You might even be treated as a hero. Are you listening?
To Jim Griffin: you wrote “Now they say that they’re 11 BILLION dollars in the red”
You are WRONG sir . Illinois has a budget deficit this of $13 Billion dollars. So there!
Because of reading your blog, I decided to write my own. I had never been interested in keeping a blog until I saw how fun yours was, then I was inspired!
Pointing out the obvious but too scared to make the real CHOICES necessary to solve the issues. Your assessment is correct, you’ll stay on the list of potential Lt. Govenors as long as all you do is rant about the issues and place blame on others.