Illinois has seen an increase in foreclosures. The firm RealtyTrac reports there was a 9 percent increase in January compared to the same time last year.Daren Blomquist is with RealtyTrac. He says even though there has been a bit of a reprieve in 2011 it was somewhat of an artificial reprieve. Blomquist says that's not because the market was recovering but because it was taking longer for the lenders to foreclose. He says lenders are pushing through foreclosures that were likely stalled over problems with the paperwork submitted by banks.
Blomquist predicts foreclosures in Illinois will continue increasing in the coming months.
