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New Foreclosure Filings in Cook County Out of Control

New Foreclosure Filings in Cook County Out of Control

 

Posted: 04-11-2009

   In 2005, due to the high level of new foreclosure filings in 2004, totaled 15,632, was created a new department in the Cook County Court Chancery Division with the name The Mortgage Foreclosure/Mechanics Lien Section.


Since the creation of this new department mortgage foreclosure case filings have increased steadily as follows:

 

Cook County New Mortgage Filings by Year

Year

 Filings

2005

16,494

2006

22,248

2007

32,651

2008

43,876

In spite of the promises of getting the things under control the latest statistics show that for the first quarter of 2009 there were 13,196 new fillings. As of the end of February, 2009, there were 46,854 new mortgage foreclosure cases pending in the Chancery Division. Based upon the current filings for the past 3 months of 2009, it is anticipated that this year the mortgage foreclosure filings in Cook County will exceed 52,000.

Also if the mortgage foreclosure filings and dispositions continue at the current pace, it is estimated that there will be in excess 63,000 mortgage foreclosure cases pending as of December 31, 2009 and 71,000 by March 31, 2010. If filings and disposition continue at the current pace, it is estimated that there will be in excess of 92,000 cases pending as of December 31, 2010.

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Posted by The Illinois Foreclosure Listings Service based on information provided by the Clerk of Circuit Court of Cook County in Illinois