Morning Minute: Illinois foreclosure activity decreases in first quarter of 2013

After four consecutive quarters of rising foreclosure activity, Illinois saw a 2 percent drop in activity in the first quarter of 2013 compared to the fourth quarter of 2012 and was 5 percent lower than a year ago, RealtyTrac reports.

But Illinois’  foreclosure rate still remains one of the highest and the timeline to complete a foreclosure in Illinois, which is a judicial foreclosure state, can take an average of  720 days, RealtyTrac also reports. Read RealtyTrac’s full news release for more information.

If you are an at-risk homeowner there are state and federal programs that could provide assistance and/or help you keep your home. Find a list of resources at www.illinoisrealtor.org/foreclosure.

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.