So, why has Chicago's Foreclosure Filings Decreased?
One main reason could be because the mortgage servicers put a hault to the year-end foreclosure processing so that they could attend to investigations of their own foreclosure procedure and documentation.
Today, I was watching the news where it is reported that while foreclosures have slowed down that 2012 will be the highest year in foreclosures due to loss of jobs.
So, how can the Chicago Area Foreclosure Filings Decrease? The decrease is being compared to the lowest level in three years in 2011.
2012 will be a record breaking year for foreclosures. Remember, the value of your home demands on local and not national or via the City average but your specific defined neighborhood!
While the news is backwards and the media is trying to put a little wind to our sails, the fact still remains that you have options if you are experiencing financial difficulties. Don't wait until the last minute as those options reduce themselves automatically due to the time frame.