Sizing Up Home Foreclosures: A Look at Alpine Bank's Numbers

By: Kristin Burke
By: Kristin Burke

ROCKFORD (WIFR) -- Right now, Alpine Bank averages about 40 home foreclosures every two months. That's far lower than the peak of 60 in April and May. This means less than one percent of Alpine's home loans are in foreclosure.

Alpine's Ron Balsam says this is significantly better than other area banks. Balsam adds the key, is getting ahead of the problem before borrowers get too far behind.

"We are talking to people if they are 15 days behind on their payment. They are technically not late, but were calling them, not just sending a letter. We're finding out if we can modify something or have them bring in some of the money and then make it up, so they don't get too far behind."

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