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Illinois Still Plagued By "Zombie" Owner Vacated Foreclosures

Illinois is still in second place for states with the most owner-vacated foreclosures, or "zombie properties" as some call them. According to foreclosure listing site RealtyTrac, of the nation's largest metro areas, Chicago had the fifth highest foreclosure rate in February with over 6,000 properties going into foreclosure. Last summer, RealtyTrac placed Chicago in first place of metro areas with the most owner vacant foreclosures, leading experts to warn that Chicago's foreclosure crisis is far from over. Although new foreclosures have hit a seven year low on a national level, Illinois and Chicago's "zombie" problem will not be going away anytime soon.