A new study says Chicago-area foreclosure cases are taking longer to process. The data, compiled by Woodstock Institute, says the median time for a house to complete foreclosure in the second quarter of 2011 was 359 days.
Communities are having a problem with vacant properties in this recession. They’re struggling to generate tax revenues, properties are deteriorating with neglect, and neighboring property values are plummeting. Most towns are scrambling to find new tenants for these buildings: businesses,