New Foreclosure Filings See Dramatic Decrease in Tri-Cities, Kane Co. (Patch.com)

By Amie Schaenzer

As the Chicago area continues to dig itself out from a housing crisis that has hit the suburbs hard in recent years, the first half of 2014 did bring some good news.

From January to June of this year, the Chicago area saw the lowest level of new foreclosure filings since 2007, according to recent data released by the Woodstock Institute, a research and policy organization that specializes in fair lending, wealth creation and financial systems reform. Foreclosure filings in the six-region Chicago decreased 40 percent from the first half of 2013 to the first half of 2014 while Kane County foreclosure filings dropped 43.6 percent.

Here is a look at how local communities fared when it came to new foreclosure filings:

  • Geneva: The city had 35 foreclosure filings in the first half of 2013 and 27 in the first half of 2014. The number of filings has dropped 23 percent.
  • St. Charles: New foreclosure filings in St. Charles dropped 50.7 percent. In the first half of 2013, there were 57 foreclosures while there were 28 foreclosures in the first half of 2014.
  • Batavia: Batavia also saw a sharp decrease in foreclosure filings. There were 52.1 percent less foreclosures filed in the first half of 2013 compared to the first half of 2014. 

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