Good News For Joliet, IL Foreclosures

Well good news depending on how you read the numbers.

Foreclosure filings in Will County, IL (which encompasses most of Joliet, IL foreclosures) were down 20% in May from April, but ….they were up year over year 131% from May 2009. There were a total 1,114 filings in Will County for May 2010.

These numbers appear in a recent article in the Naperville Sun which reported the latest figures from RealtyTrac. Some more info on other counties in the Joliet, IL area:

Grundy County, IL Foreclosures: 28 in May, down 50% from April but up 833% from last May.

Kendall County, IL Foreclosures: 280 in May, down 43% from April but up 20% from last May. (Some Joliet, IL foreclosures are located in Kendall County)

We are not out of the woods yet folks, but hopefully we can slowly start to turn off the spigot of bad debt. Unfortunately, I don't see that coming.