Most cities are affected by foreclosure. Some more than others. The entire State of Illinois has a high foreclosure rate overall. However, some cities are not as badly affected as others. When you view the December 2011 Foreclosure Rate Heat Map notice that Illinois is ranked high amoung most tates.
How is your city affected? There are many factors that may lead to foreclosure: job loss, home owners relocating to new areas and being unable to sell their homes, businesses leaving an area can also lead to job loss. In addition, some home owners may find themselves being upside down in their mortgages and just walking away from the property.
Can I find out how many homes are in pre-foreclosure or already foreclosed on? Yes, most real estate websites can provide this information or you can contact your real estate professional to get the information. For detailed foreclosure information feel free to contact me.
Post the city you are interested and I’ll share the data with everyone.