Foreclosures down in St. Clair County, up in Madison County

Published: November 15, 2012 

It was a mixed bag for foreclosure filings in the metro-east last month as compared to the previous year.

In October, 85 foreclosures were filed in St. Clair County, slightly below the 91 filed in October 2011. The 194 filed in Madison County was higher than the 80 filed the year before.

Compared to previous year, the metro-east foreclosure filing rate has overall been falling. A total of 145 foreclosures were filed in October 2010 and 157 foreclosures were filed in October 2009 in St. Clair County. In Madison County, 129 foreclosures were filed in October 2010 and 128 were filed in October 2009.

On Thursday, Irvine, Calif.-based online real estate tracker RealtyTrac reported that national year-over-year foreclosure rates continue to gradually fall. Last month, 186,455 U.S. properties went into foreclosure, an increase of 3 percent from September, but a decrease by 19 percent from October 2011. The report revealed one in every 706 U.S. homes filed for foreclosure during the month.

However, RealtyTrac Vice President Daren Blomquist said states such as Illinois are still struggling with high foreclosure rates. The state recorded 14,899 foreclosures last month. The state's foreclosure rate rose by 6 percent last month over September and soared by 19 percent over October 2011.

Blomquist said that the Land of Lincoln as well as states like California, Arizona, Nevada and Michigan are not helping drive down national foreclosure rates to the lowest year-over-year total in five years.

"Illinois definitely is one of the states that is bucking national trends and has been this year," Blomquist said. "With now 10 straight months, starting in January, the year-over-year increase in foreclosure activity and the 14,899 in October in foreclosure filings has increased."

RealtyTrac's report also cited that one in every 356 homes in Illinois had filed for foreclosure in October, the nation's third-highest state foreclosure rate.

Contact reporter Will Buss at wbuss@bnd.com or 239-2526.

Contact reporter Will Buss at wbuss@bnd.com or 239-2526.

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