Foreclosure rate falls in Bloomington, stays below Illinois and national rate

Posted on December 31, 2015

Zip code breakdown of McLean County foreclosure rates. (Graphic courtesy CoreLogic)

By Joe Ragusa

BLOOMINGTON – Foreclosures in Bloomington are on the decline.

Numbers from data analysis company CoreLogic say the foreclosure rate in Bloomington was 0.75 percent in October 2015, .22 percent lower than the rate in October 2014. The mortgage loan delinquency rate is also down .29 percent over the same time frame.

Bloomington’s foreclosure rate is below the Illinois rate of 1.47 percent in October and the nationwide rate of 1.2 percent. All three numbers are on the decline, with Illinois’ drop of .53 percent being the most significant of the three.

The 90-day mortgage delinquency rate also fell in Bloomington to 1.86 percent in October. Those numbers follow a similar trend to the foreclosure rate: Bloomington is lower than Illinois and the U.S., but all three numbers are down from the same time last year and Illinois’ decline is the largest.

The report from CoreLogic also says foreclosure rates are relatively low in Bloomington-Normal except for the 61701 zip code which encompasses downtown Bloomington. It’s moderately high in other parts of McLean County, like Gridley, Colfax and Stanford.

Joe Ragusa can be reached at [email protected].

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