According to ATTOM Data, a nationwide provider of housing data, there was an increase in foreclosure filings in the month of August. As compared to July, August had 7% more foreclosure filings -- which is a significant month over month increase, but still 2% less than the amount of filings in August of 2022. Notably, the states of Nevada, Illinois, and South Carolina had the highest foreclosure rates in August. Among metropolitan areas with large populations, Chicago had one of the worst forclosures rates in the country -- averaging 1 foreclosure for every 2,257 housing units.

What does the uptick in foreclosure filings mean?

Although foreclosure filings are increasing, it's important to note that we are just now reaching a more normal historical level of foreclosure activity. The lifting of all Covid-19 moratoriums has unclogged the pipeline of distressed properties, so as the judicial system works through the backlog, we can expect foreclosure rates to continue to increase.

At The Law Center, we are a team of specialists that are passionate and up to date about the foreclosure process from start to finish and helping homeowners at the highest level. Our staff and attorneys approach each client and each property as a new challenge, one that requires thorough analysis, zealous representation, and thoughtful strategy. It’s your home, let The Law Center help you defend it.

Call us now and speak with a foreclosure expert on how you can make the foreclosure process work for you -- not against you. (312) 600-8815