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80 STATE OF AFFAIRS: NORTHEAST » Connecticut RANK: 6 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 2.66% 4.04% 7.4 YEAR AGO 3.16% 5.01% 8.2 YEAR-OVER-YEAR CHANGE -15.8% -19.3% -0.8 Top County WINDHAM COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 3.93% 6.77% YEAR AGO 4.27% 7.77% YEAR-OVER-YEAR CHANGE -8.0% -12.9% Top Core-Based Statistical Area WILLIMANTIC, CT 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 3.93% 6.77% YEAR AGO 4.27% 7.77% YEAR-OVER-YEAR CHANGE -8.0% -12.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin IN THE NEWS Connecticut Man Sentenced to Federal Prison for Mortgage Scam e Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Robert Ilunga, of Naugatuck, Connecticut, was sentenced to 18 months in federal prison for operating a multimillion-dollar mortgage fraud scheme. Ilunga will serve three years of supervised release upon his release from prison. In January 2012, Ilunga pleaded guilty to one count of conspiracy to commit wire fraud and to one count of conspiracy to commit money laundering. "While the nation was mired in a housing crisis, Ilunga and his co-conspirators ripped off TARP banks for millions of dollars and helped wreck the housing market in com- munities across Bridgeport," said Christy Romero, special inspector general for TARP. More than 40 multifamily homes and parcels of land in and around Bridgeport were purchased under false pretenses by Waikele Properties Corp., a real estate company headed by Ilunga. In order to obtain mortgages, Ilunga and his co-conspirators falsified an array of docu- ments, including fake employment records, tax documentations, and fraudulent loan applications. e scheme extended to the applicants themselves, falsifying letters from fictitious employers, falsifying earnings statements, and falsifying the creditworthiness of the purchasers to TARP banks and other mortgage lenders. Many participants served as straw buyers in the mortgage scheme, providing fraudulent information regarding buyers' income, assets and liabilities, previous property ownership, and intention to make the properties their primary residences. Romero continued: "e properties that later fell into foreclosure were bad loans that cost the banks millions of dollars in losses. SIGTARP and our law enforcement partners stand united in bringing to justice those responsible for threatening taxpayers' TARP investments." e parties have agreed victim financial institutions, which include TARP banks, suffered estimated losses of between $2.5 mil- lion and $7 million. Delaware RANK: 13 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 3.32% 2.76% 6.2 YEAR AGO 3.98% 3.05% 7.1 YEAR-OVER-YEAR CHANGE -16.5% -9.4% -0.9 Top County KENT COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 4.77% 3.86% YEAR AGO 5.70% 3.88% YEAR-OVER-YEAR CHANGE -16.3% -0.5% Top Core-Based Statistical Area DOVER, DE 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 4.77% 3.86% YEAR AGO 5.70% 3.88% YEAR-OVER-YEAR CHANGE -16.3% -0.5% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. District of Columbia RANK: 19 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 2.53% 2.37% 8.1 YEAR AGO 3.45% 2.41% 8.4 YEAR-OVER-YEAR CHANGE -26.7% -1.4% -0.3 Top County DISTRICT OF COLUMBIA 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 2.53% 2.37% YEAR AGO 3.45% 2.41% YEAR-OVER-YEAR CHANGE -26.7% -1.4% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 2.26% 1.78% YEAR AGO 3.45% 2.41% YEAR-OVER-YEAR CHANGE -34.6% -26.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Counter to a national trend, foreclosure starts increased in Connecticut, up 82 percent, according to RealtyTrac. KNOW THIS