While initial foreclosure filings in the Chicago area are down as compared to a year ago, the number of court-supervised foreclosure auctions have doubled (5,674 homes set for auction in the Chicago area in June of this year, as compared to 2,588 properties in May of last year).
The uptick in auctions signals that lenders are aggressively pushing cases through the court system. According to RealtyTrac Vice President Daren Blomquist, “[T]he increases in judicial foreclosure auctions demonstrate that these delayed foreclosure cases are now being moved more quickly through to foreclosure completion.”
Before your home is sold through a judicial auction, contact The Law Center, LLC and educate yourself on your legal rights and options. 312-600-8815.