WBEZ 91.5 Chicago

The foreclosure numbers just keep getting uglier and uglier in Indiana, particularly in Northwest Indiana. And the latest numbers make it appear that the situation isn't improving. Take June for instance.

Two stories out today explain why foreclosures are still expected to keep climbing, even as the recession appears to be winding down.

The Mortgage Bankers Association released stats on the second quarter this week and they're pretty grim. The percentage of loans in foreclosure, and the percentage of loans with delinquent payments both set records.

Sometimes people lose their homes to foreclosure without ever defaulting on any loan.

I hope my story today is not giving the impression that retail is the only part of Chicago's commercial-property market in distress. Another consists of multifamily apartments.

One in 59 Chicago-area households is in foreclosure and the numbers are on the rise. In the first half of this year, foreclosure filings were up 30 percent from a year earlier, according to RealtyTrac.

Northwest Indiana listeners, you may have money headed your way. The Indiana Attorney General sued Countrywide Financial in August 2008, alleging -- among other things -- deceptive lending practices.