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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