Encouraging economic news is hard to come by these days, no matter what Sean Hannity tells you. According to new data from RealtyTrac,
foreclosure filings are still rising in Illinois, a full year after the
housing bubble burst. In August, 10,757 Illinois households reported
filings (default notices, auction sale notices or bank repossessions),
a 20 percent jump from one month prior and a 72 percent rise from
August 2007. Illinois was the ninth most affected state, one spot ahead
of neighboring Indiana, which experienced a 10 percent increase since
July. Nationally, one in every 416 households -- a total of over
300,000 homes -- received a foreclosure filing.
The Cook County Board has taken steps to inform its residents about possible ways to keep their homes, host 14 workshops (beginning this Saturday) aimed at helping folks restructure expensive mortgages. Commissioner Deborah Sims told WBEZ that while attendance has been low in the past, the workshops can still be valuable:
SIMS: Nobody wants to come and say that their house is in foreclosure. But I think by having all of (the workshops) at different places, people can go outside of their communities where people don't know them. They can feel comfortable by coming. Too many people are losing their houses, and it's all because of predatory lending.
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