Illinois homeowners are most likely in the nation to be in foreclosure. The looming $2,100 property tax hike from Amendment 1 would make housing even more unaffordable.
Illinois experienced over 14,000 foreclosures in the first six months of 2022, the highest rate in the nation.
One in every 385 housing units – or about 0.26% of homes – either received a default notice, had an auction scheduled or was repossessed by the bank. Instances of foreclosures in Illinois have nearly tripled from last year and are up 12% from two years ago.
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