A RealtyTrac report released says that there are about 20,000 foreclosure notices that were filled as of October this year in Illinois where it shows a 57 percent increase over the previous months. This also represents the largest foreclosure numbers since January 2005.
According an article on Real Estate Blog (link Below), this spike of foreclosure can be pointed to the state law passed in April to give property owners more time to restructure their loans and mortgages which doesn't really prevent foreclosure but just delay its filling.
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