Jul 28, 2014
65°
Mostly Cloudy

Foreclosure Filings Down in Woodridge, DuPage County

Foreclosure filings and repossessions fell to their lowest levels since 2007 last year, but it might not be all good news.

Foreclosure Filings Down in Woodridge, DuPage County

National foreclosure filings fell to their lowest level since 2007 last year, according to CNN Money

Filings in and the village's surrounding communities dropped, as well. 

Total filings in 2011, including default notices and bank repossessions, were down 33 percent to 2.7 million from last year, according to RealtyTrac. 

About 800,000 homes were repossessed in 2011, down from the 2010 peak of 1.05 million, according to CNN Money

There were 92 foreclosure filings during the first half of 2011 in Woodridge, according to Woodstock Institute, down 26.4 percent from the first half of 2010. 

DuPage County saw a 22.4 percent decline in filings in the same time period, from 3,597 filings during the first half of 2010 to 2,792 during the first half of 2011. 

Unfortunately, the decline in filings might not mean a drop in the number of foreclosures. 

Much of the drop in foreclosure filings is due to processing delays, Brandon Moore, chief executive officer of RealtyTrac, told CNN Money.

Moore expects foreclosure activity to rise over 2011 levels but not surpass the number of filings in 2010.  

1st Half 2011 Foreclosures1st Half 2010 Foreclosures% ChangeDuPage County 2,792 3,597 -22.4 Woodridge 92 125 -26.4 Bolingbrook 349 514 -32.1 Darien 43 71 -39.4 Downers Grove 87 104 -16.3 Lisle 63 82 -23.2 Naperville 246 297 -17.2

Don’t miss updates from Patch!