Foreclosure filings up 18 percent (Evanston Now)

By Bill Smith

July 22, 2010

 

The Woodstock Institute reports that foreclosure filings in Evanston increased in the first half of this year by 18 percent over the same period last year to a total of 267.

The good news, such as it is, was that the rise here was lower than the average 33 percent increase in northern Cook County, or the 37 percent increase for the six-county Chicago region.

The number of completed foreclosure auctions in Evanston rose nearly 14 percent to 33 in the second quarter, and all but two of the properties ended up owned by the bank that held the mortgage. Foreclosure auctions also rose 14 percent for the six-county region, but were up 10 percent on average in northern Cook County.

For the year so far, 87 homes have been sold at foreclosure auctions in Evanston.

The institute's report said that so far this year an increasing percentage of foreclosure filings have involved condominum units rather than single family homes. For northern Cook County the condo percentage was 30 percent this year compared to 22 percent last year. The report did not provide detail showing the number of condo foreclosures in Evanston.

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