From January to June of this year, the Chicago area saw the lowest level of new foreclosure filings since 2007, according to recent data released by the Woodstock Institute, a research and policy organization that specializes in fair lending, wealth creation and financial systems reform. Foreclosure filings in the six-region Chicago decreased 40 percent from the first half of 2013 to the first half of 2014 while Kane County foreclosure filings dropped 43.6 percent.
Here is a look at how local communities fared when it came to new foreclosure filings:
- Geneva: The city had 35 foreclosure filings in the first half of 2013 and 27 in the first half of 2014. The number of filings has dropped 23 percent.
- St. Charles: New foreclosure filings in St. Charles dropped 50.7 percent. In the first half of 2013, there were 57 foreclosures while there were 28 foreclosures in the first half of 2014.
- Batavia: Batavia also saw a sharp decrease in foreclosure filings. There were 52.1 percent less foreclosures filed in the first half of 2013 compared to the first half of 2014.