foreclosure: Illinois foreclosure numbers fall in February - 03/10/11 08:11 AM
The number of homes in foreclosure plummeted in both Illinois and the U.S. in February, but despite the slowing flow, many analysts believe the foreclosure pipeline has not turned off yet. See Chicago Breaking Business News........
(Crain’s) — The number of Illinois properties facing foreclosure plunged in February compared with the same month last year, as the slow slog of foreclosure cases continues in the wake of the controversy over lenders’ collection efforts...Read more.......
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foreclosure: Development projects in McHenry County remain on hold as the effects of the recession linger. - 03/09/11 03:06 AM
From the Northwest Herald.....The economy still is sluggish and the construction industry could be the last to bounce back, Northern Illinois University Economics Professor Khan Mohabbat said.  Follow link to story......
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foreclosure: Illinois foreclosure activity falls in January - 02/11/11 02:46 AM
A possible sign that lenders are taking longer to move against homeowners in the wake of the controversy over improper foreclosure procedures.Read more from ChicagoRealEstateDaily.com
 
Again these numbers can be interpreted different ways by different people.  
What was the true cause?
Will the numbers continue to fall?
 
 
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foreclosure: Spartanburg, SC - 200%+ Gain in Foreclosures reported by CNN - 02/03/11 03:11 AM
CNNMoney.com published a report about Spartanburg, SC stating they have the fastest-growing foreclosure rate in the country.  Something like a 200% gain from 2009 to 2010 in the number of foreclosures
However, locals say there is a mistake in the reporting, saying,  Small numbers can make for big percent gains. See story....
 
Are foreclosures really becoming a major problem in Spartanburg or is there a flaw in the reporting?
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foreclosure: The tear downs begin... - 01/31/11 10:48 AM
Two articles regarding a foreclosure on the West side Chicago, that the banks say they don't own.
First one,  The Tale of A West Side Foreclosure.
Then less than 10 days later, the second,  Who Will Step Up To Fight The Foreclosure Crisis?, during which someone was there the morning of the demo and recorded it along with interviews of the local residents.

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foreclosure: Deployed service members will get temporary reprieve from foreclosure under a new Illinois law - 01/28/11 12:45 PM
New (Illinois) state law that went into effect on Jan. 1, 2011, aims to help members of the military avoid foreclosure.
State Representative Mark Walker sponsored the bill. The law allows people recently deployed in combat zones to apply for a 90-day delay if they’re facing foreclosure.
 
 
 
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foreclosure: Cook County Mortgage Foreclosure Mediation Program -- Volunteer Training - 01/25/11 09:57 AM
For the attorney's out there:
 
The Circuit Court of Cook County recently initiated the Cook County Mortgage Foreclosure Mediation Program. The goal of the mediation program is to deliver needed services to Cook County homeowners in crisis as early as possible once the foreclosure process begins.
http://www.illinoislegaladvocate.org/index.cfm?fuseaction=calendar.calendarDetails&eventID=3446
 
* Basic information about mortgages and the foreclosure process* Why mediation is an important tool for conflict resolution and how the mediation process works* How to effectively represent your client in foreclosure mediation including information about relevant federal foreclosure relief programs, loss mitigation and negotiating a graceful exit* How you can volunteer … (0 comments)

foreclosure: McHenry County Foreclosure List - Updated - 01/19/10 08:36 AM
McHenry County has a new site and with it a new link to the county foreclosure list.  The list seems to be more updated than the old scan-and-post lists.
Every Thursday, at 10am there a sheriffs in McHenry county. The following link is a list of properties that will be auctioned to the highest bidder.   This list is maintained and published by McHenry County on their site here.
There is 1 this week and 4 next week.
You can see a list of the HUD foreclosures for sale in McHenry, Lake and Kane counties here.
 
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foreclosure: 4 States Account for 50% of Foreclosures in Nation - 01/18/10 12:39 PM
This chart I found on a blog from Philly shows how the top four states stack up against the rest of the country.
 
 
 Illinois is number four in total numbers, but number seven per capita.
See the November 09 numbers in this previous blog post.
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We subscribe to RealtyTrac and are the exclusive pre-screened real estate company in McHenry, Huntley, Woodstock, Wonder Lake and Wauconda. 
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foreclosure: More on Illinios Foreclosure Numbers - 01/15/10 02:46 AM
More RealtyTrac numbers on Illinois as reported by the Tribune:
131,132 homes received a foreclosure filling in 2009 about 1 in every 40 homes received a filing This a 32% increase over 2008 fillings See the November 09 numbers in this previous blog post.
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We subscribe to RealtyTrac and are the exclusive pre-screened real estate company in McHenry, Huntley, Woodstock, Wonder Lake and Wauconda. 
 
 
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foreclosure: Top 10 states for foreclosure - 01/12/10 10:36 AM
Illinois is sitting at #7 according to this Bankrate.com article which probably gets these numbers from RealtyTrac.  Also from RealtyTrac, in Illinois there were 16,422 properties getting foreclosure notices (at least 3 months behind on mortgage payments) in November 2009.  This is over a 100% increase from 2008 November and is the third highest volume in the county. 
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foreclosure: McHenry County Foreclosure List - 04/13/09 12:02 PM
Every Thursday, at 10am there a sheriffs sale (sometimes on the steps, most of the time in an office) in McHenry county. The following link is a list of properties that will be auctioned to the highest bidder at the court house for April and May.   This list is maintained and published by McHenry County on their site here.
 
There are 2 up for auction this week and 4 next week.
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foreclosure: McHenry, IL Deal-of-the-day 12/26 - 12/31/08 03:16 AM
First, not my listing, it has a very interesting history and looks like a good deal:
 
1514 Tecumseh Dr
 

Original listed in 2005 for 475,000, spent 276 days on the market, canceled 11/15/05 Relisted 12/27/05 with new Realtor at 525,000, went 151 days and price drop to 469,00 then canceled again 5/26/06 relisted again, with yet another realtor, on the same day 5/26/06 at the same price, canceled again in 115 days 9/18/06, no price drops relisted 12/09/06 with a previos realtor at 525,000, canceled 6/11/07, price dropped to 489,000 relisted yet again, and last time for this … (0 comments)

foreclosure: McHenry Deal-of-the-day 12/30 - 12/31/08 02:29 AM
First, it's not my listing, but looks like it could be a real good deal.
 
A 5 bedroom and 3.1 bank owned home in McHenry hit the market yesterday.  It has 2 master suites and a finished basement. 
Starting at 239,900, how low will it go...
 
Pics to follow.
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foreclosure: A Second Mortgage Disaster On The Horizon? - 12/15/08 05:14 AM
There's a news story on CBS's 60 minute website, reported by Scott Pelley, about another wave of foreclosures in the coming year. 
 
There are NOT subprime mortgages, we are talking about ARMs and Alt-As.  Long article, but a good read.  There is also a video.
 
Link to story
 
 
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foreclosure: Hope for Homerowners, quick thoughts - 12/11/08 03:00 PM
Why do the feds get a 50/50 spilt in home appreciation forever? I can understand the split for the first five years, but why, after 30-40 years, would one still have to split the appreciation. From the client prospective, it seems that if a home is saved through this program, that the homeowner would be the best off selling (maybe refinancing if possible) right after 5 years when the split drops to 50/50. There are many problems with this program, some are being addressed, some are not.  
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OK and Associates Realty Plus (Northern Illinois Real Estate)

OK and Associates Realty Plus

McHenry, IL

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Northern Illinois Real Estate

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