New data illustrate a logjam in Chicago region foreclosure processes

CHICAGO, IL – September 22, 2011 – (RealEstateRama) — Chicago region foreclosure cases are taking longer to complete the foreclosure process, resulting in a dramatic drop in foreclosure completions from the first half of 2010 to the first half of 2011, new data from Woodstock Institute show. As fewer cases complete the foreclosure process each quarter, it is likely that the number of homes tied up in the foreclosure process is growing.