THE JOURNAL & TOPICS NEWSPAPERS | WEDNESDAY, NOVEMBER 19, 2008

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Des Plaines Tops Foreclosure List

By TOM ROBB

Journal & Topics Reporter

Des Plaines and Palatine top Northwest suburban communities in total foreclosure activity, according to Realty Trac Inc.

Des Plaines tops the Journal & Topics Newspapers' coverage area with homes in pre-foreclosure filings and scheduled home auctions. Palatine is tops in the area in most properties taken over by banks.

In Des Plaines, 427 homes were recently identified as in pre-foreclosure by Realty Trac. Banks own an additional 182 homes while another 119 residences are slated for auction.

As of Realty Trac's most recent report, Palatine ranks second only to Des Plaines in pre-foreclosure filings with 328 homes. Another 205 homes in Palatine have been identified as having been recently taken over by banks with another 97 having been recently auctioned.

The lowest number of home pre-foreclosures was in Rosemont with only four.

When examined by zip code, the highest rate of foreclosure activity in the area was in the 60016 zip code that covers approximately 70% of Des Plaines. Realty Trac lists 562 homes in the 60016 zip code at some stage in the foreclosure process. The 60018 zip code that covers parts of Rosemont and south Des Plaines lists 188 in some stage of foreclosure.

Second to the 60016 zip code is 60074 that covers an area between Buffalo Grove and Palatine with 438 at some stage of the foreclosure process. Nationally, only four states had more new foreclosures in October than Illinois. Illinois listed 12,677 new filings in October or one in every 410 homes, the fifth highest in the country, behind California, Florida, Arizona and Nevada.

Cook County has one of the highest rates in Illinois with one in 313 or 6,885 new foreclosure filings in October.