Kpoto considered “walking away” from his house, despite a $95,000 mortgage. A local police officer encouraged him to start a block club instead. Kpoto was shocked when more than 15 people showed up to the first meeting.
Today, Kpoto, 58, is proud of his part of Jordan, a mostly black low- to middle-income neighborhood where the average resident makes just more than $30,000 a year: “You can see how quiet this block is compared to other blocks.”
While the number of homes in the six-county region entering the process fell by almost 38 percent from 2013's first half, to just under 14,000 cases, foreclosure auctions decreased by only 17 percent to 13,602 auctions, according to a report scheduled to be released Thursday by Woodstock Institute, a Chicago-based research and public policy organization.
"You had this huge influx of filings that was the pig in the snake," said Spencer Cowan, a vice president at the group. "The court got backlogged. It's taking time to work through the system.'