Joliet and Will County foreclosure rate twice national average

More Will county homeowners were in the foreclosure process in September than August, according to RealtyTrac. Will County’s figures were up 17% from the previous month and at rate of nearly four times the national average.

“We’ve got some rough times to look at in Will County and we will see pockets of housing where the prices are not rising”

The housing boom of the late 1990s and early 2000s came around, the low interest rates and easier access to credit helped stoke a hot home-buying trend, is proving to be problematic for consumers who find themselves financially stretched in the economic slowdown.

Housing experts are concerned about the increase and don’t anticipate a slowdown for the remainder of the year.

The national trend doesn’t look any better.