Illinois Ranks #1 in the Nation for Home Foreclosures

By: Shannon Smith
By: Shannon Smith

ROCKFORD (WIFR) -- Although housing sales are up in Rockford, for the first time since they've been keeping track, Illinois ranks #1 in the nation for home foreclosures.

According to RealtyTrac, Rockford ranked 9th in the country for foreclosures in August, behind only 7 California cities and Chicago.
The new figures show Illinois leading the nation in foreclosure activity. 1 out of nearly 300 homes received a foreclosure notice in August, which is double the national average. In Rockford, it's even a bit worse with 1 out of 270 homes in foreclosure. Rockford Area Realtors President Tom Ewing says despite the ranking, he's hopeful for the future.

"We have some excellent companies in town that deal directly and specifically with foreclosures and even though there are a lot of them in the area, we will find buyers, they will fix up and improve the property," said Ewing.

Ewing says Rockford Area Realtors hope to see more people buying the vacant homes since interest rates are down. Other high ranking cities include Los Angeles, Miami and Phoenix.

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