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Chicago ranks as a top market for foreclosure properties, says RealtyTrac

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RealtyTrac today released its Year-End 2015 U.S. Home Equity & Underwater Report. The report found that at the end of 2015, seriously underwater properties were down 481,292 from 6.9 million in the third quarter and 616,189 from 7.1 million from a year prior.

Chicago specifically has an over abundance of foreclosure properties. The city ranks among the top markets with a high percentage of foreclosures.

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In Chicago, 46.7 percent of foreclosed homes are seriously underwater.

The city ranks among others such as Las Vegas, Lakeland, Fla., Cleveland and Deltona-Daytona Beach-Ormond Beach, Fla.

In Cook County, RealtyTrac reported of the 2,176,266 properties, about 52.3 percent are seriously underwater.

On a state-wide basis, Illinois had 32 percent of homes with equity and 45.2 percent of foreclosures are underwater.