Completed foreclosures in Cook County rise from end of 2010, says new analysis

Banks repossess nearly 2,800 homes in Cook County in the first quarter of 2011
 
Completed foreclosure auctions in Cook County increased substantially from the final quarter of 2010 to the first quarter of 2011, adding thousands of properties to the County’s vacant property inventory, say new data released by Woodstock Institute. The 10.5 percent increase in completed foreclosures from the fourth quarter of 2010 to the first quarter of 2011 was likely caused by a resumption of foreclosure activity after the end-of-year pause in many servicers’ foreclosure processes due to the robo-signing scandal.
 
The analysis also found:
 
In the first quarter of 2011, Cook County experienced a 7.2 percent increase in foreclosure filings compared to the first quarter of 2010.
 
• Increases were observed in all areas of Suburban Cook, ranging from the biggest increase in North Cook County (18.2 percent) to the smallest increase in Northwest Cook County (10.4 percent).
 
• Newly filed foreclosures increased slightly in the City of Chicago, where foreclosure filing activity increased just one percent in the first quarter of 2011 over the same period in 2010.  In City of Chicago community areas, large increases were observed in East Side (108.7), Archer Heights (76.2), Lakeview (60.3) and North Center (57.9).  Significant decreases were observed in Washington Heights (25.6), Auburn Gresham (29), Irving Park (21.2), and Rogers Park (20.2). 
 

 
Read the analysis