A nationwide report by CoreLogic indicates that in almost every state, fewer homeowners are more than 90 days behind on their mortgage payments or in foreclosure than they were in 2014, according to a story by Inman.com yesterday.
In its May 2015 National Foreclosure Report, CoreLogic noted the supply of foreclosures was down 27.4 percent and completed foreclosures decreased 19.2 percent from May 2014, reported Inman staff writer Amy Swinderman. The delinquency rate for mortgages was the lowest since January 2008.
CoreLogic Chief Economist Frank Nothaft credited the improving job market with the improvements in foreclosures and delinquent loans.
The article list the five states with the most and the least foreclosures, and Illinois was not on either list. However, the article did note that the mortgage default rate in the Chicago metro area was still high.