December 4, 2008
Most Northwest Side Chicago neighborhoods saw twice the number of
foreclosure filings — also called foreclosure "starts" — in the first
half of 2008 as compared to the same period last year.
The data, released by the Woodstock Institute — a Chicago-based
policy and advocacy nonprofit agency which works to promote community
reinvestment and economic development in lower-income and minority
communities — shows increases of more than 100 percent on the
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Loans are classified as being in default when a borrower falls
behind on payments for three consecutive months. According to the
Woodstock Institute’s foreclosure filing data:
Citywide, there were 8,827 foreclosure filings in the first half of
this year, compared to 6,202 in the same period last year, a 42 percent
increase. There were 13,872 recorded from January through December
A breakdown by the city’s 77 community areas, shows:
• There was a 120 percent increase in Edison Park Community Area 9,
with 11 in the first half of 2008 and 5 during the same period in 2007.
There were 15 throughout all of 2007.
• Forest Glen Community Area 12, which also includes Edgebrook and
Sauganash, saw a 121.4 percent increase, with 31 in the first half of
2008 and 14 over the same period in 2007. There were 40 last year.
• Jefferson Park Community Area 11 saw a 67.9 percent increase,
with 47 during the first half of this year and 28 in the first six
months of last year. There were 65 in all of 2007.
• There was a 114.3 percent jump in Norwood Park 10, which includes
Oriole Park and parts of Gladstone Park, with 75 through June of this
year and 35 in the first half of 2007. In total there were 85 last
• Foreclosure starts in the O’Hare Community Area 76 which includes
parts of the far Northwest Side west of Cumberland Avenue — were up
330 percent, with 43 in the first six months of this year and 10 over
the same period last year. There were 28 throughout last year.
Broken down by ward, foreclosure filings more than doubled in five Northwest Side wards.
• There was a 125.2 percent increase in the 36th Ward, with 232 in
the first six months of 2008 and 103 in the first half of 2007. In all
of last year there were 247.
• The neighboring 38th Ward saw a 107.6 percent spike, with 164 in
the first half of this year and 79 during the first half of 2007. There
were 202 in all of last year.
• In the 39th Ward, there were 115 in the first six months of 2008,
and 53 over the same period last year, a 117 percent increase, and 133
throughout all of last year.
• There were 111 in the 41st Ward, compared to 48 over the first
half of last year, a 131.3 percent increase, and 128 foreclosure
filings in all of 2007.
• There were 123 over the first six months of this year in the 45th
Ward and 60 during the first half of 2007, a 105 percent increase, and
145 throughout 2007.
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