According to ATTOM Data, a nationwide provider of housing data, in February of 2024 the number of nationwide foreclosure filings (including default notices, auctions, and bank repossessions) decreased 1% from January but was still 8% higher than 1 year ago. Among metropolitan areas with a population of at least 200,000, Chicago had the greatest number of lender-repossessed properties via a completed foreclosure in February.

What about foreclosure starts?

Notably, there was an increase in foreclosure starts in February of 2024. Foreclosure starts in February were up 4% from January, and up 11% from a year ago. Although the state of Illinois was not in the top five states for the greatest number of foreclosure starts, the city of Chicago ranked 4th in the nation for the most starts (792 new foreclosure cases).

This uptick in new foreclosure filings is signifcant, although more data over a greater period of time will be necessary to assess whether the increase is indicative of greater problems in the housing market.

For those facing a new foreclosure start, or fighting an existing foreclosure, there are options. At The Law Center, we are a team of specialists that are passionate and up to date about the foreclosure process from start to finish and helping homeowners at the highest level. Our staff and attorneys approach each client and each property as a new challenge, one that requires thorough analysis, zealous representation, and thoughtful strategy. It’s your home, let The Law Center help you defend it.

Call us now and speak with a foreclosure expert on how you can make the foreclosure process work for you -- not against you. (312) 600-8815

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