St. Clair County has one of highest rates of ‘zombie foreclosures’ in country

Illinois

ST. LOUIS– St. Clair County, Illinois has one of the highest rates of zombie-foreclosures in the country according to new data by ATTOM. Illinois also has the fourth most zombie properties.

Earlier this month, ATTOM released its vacant property and zombie foreclosures report for the third quarter. ATTOM is the curator of the nation’s premier property database.

St. Clair County had 9% of its homes in the foreclosure process during the third quarter. It came in number 5 among counties nationwide with at least 500 properties in the foreclosure process.

Illinois had 805 zombie properties in the third quarter. New York had the most with 2,053, followed by Ohio and Florida.

As Halloween approaches the nation could see an increase in zombie properties says Rick Sharga, the Executive Vice President of RealtyTrac, an ATTOM company.

He said that is because the government’s eviction moratorium is over plus foreclosure processes on delinquent loans can re-start.

Nationwide, there are 1.3 million residential properties that sit vacant. That is one in 74 homes across the country.

Missouri and Illinois have some of the most vacant banked-owned homes in the country. There are about 4,800 bank-owned homes in the U.S. during the third quarter and 17.8% of them are vacant.

In states with at least 50 bank-owned homes, Missouri has 35.3% of those vacant bank-owned homes. Illinois has 25.7%. Kentucky has the most at 40.9% followed by Ohio with 37.2%.

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