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Foreclosures edge down in February in region

Published: Tuesday, March 26, 2013 5:30 a.m. CDT

Home foreclosures continued to trouble the local housing market last month.

But the problem appears to have lessened in February, according to the latest round of foreclosure filings data supplied by foreclosure tracking company RealtyTrac.

Compared to January, foreclosure filings decreased by almost 19 percent in February in a nine ZIP code area that includes St. Charles, Geneva, Batavia, Elburn, Sugar Grove, Maple Park, North Aurora, South Elgin and much of Campton Hills.

The February numbers also marked a 3.7 percent decline when compared to the foreclosure filings logged in February 2012, RealtyTrac’s data revealed.

In all, 181 homes in that region faced some kind of foreclosure-related action brought by lenders in February, RealtyTrac said. In January, that number stood at 223. And last year, the region suffered 188 foreclosure filings.

Within the ZIP codes for St. Charles, Geneva and Batavia, the number of foreclosure filings increased, rising from 101 in January to 105 last month.

And compared to a year ago, foreclosure filings in the Tri-Cities ZIP codes increased more than 16 percent, rising from 90 in February 2012.

In the communities outside the Tri-Cities, foreclosures decreased in February compared to a year earlier, dropping from 98 in February 2012 to 86 last year. That is the lowest total in those communities in February since 2011.

Illinois continues to rank among the worst states for home foreclosure activity, RealtyTrac said.

One in every 417 homes in the state received a foreclosure filing in February, giving Illinois the third worst foreclosure rate in the state for the second consecutive month.

In all, 12,671 Illinois properties received a foreclosure filing last month, RealtyTrac said.

The foreclosure rate in Kane County continued to be worse than in the state as a whole. Last month, one in every 229 homes received a foreclosure filing, RealtyTrac said.

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