Bank Foreclosures Blog

On the foreclosures by state list for highest foreclosures, Ohio is currently ranked at #7 nationwide, a jump of 57% compared to same time last year. According to a recent report released by ForeclosureDataBank, there was one home per 448 Ohio homes that filed for foreclosure and received either a default notice, auction notice or bank repossession notice.

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Ohio still ranks at the ninth position as regards to its number of foreclosure homes. This situation persisted in May 2008, as recorded by ForeclosureDatabank, the Florida based real estate estimator and speculator. Its position is thus just higher than the positions of Illinois and Massachusetts and just lower than that of Michigan. But it is definitely quite low in its frequency of foreclosed houses when taken in comparison with states such as Florida, California, Colorado, Nevada and Arizona. Studies by ForeclosureDatabank reveal that out of every 410 homes in Ohio that are owned through a mortgage, 1 home has a chance of going through a foreclosure. This situation is already happening, with this number of homes in Ohio going though various stages of a foreclosure filing process.

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A real estate investor should check out Ohio bank foreclosures for great deals of properties. You can buy them at a very reduced cost and sell them at a very lucrative price so you can obtain extremely high return. The Ohio bank foreclosures are the best way to start off your real estate business.

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The month of June still recorded at least 3,725 homes entering some stage of foreclosure. In cities like Dayton, owners are struggling to make mortgage payments as well as manage problems like unemployment. To prevent the number of Ohio bank foreclosures from rising, local officials are developing plans to provide assistance to people at risk for foreclosure.

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It’s midsummer in Ohio, a name which in the local language meant beautiful river’. The June festivals have all come to a close. The Ohio Housing Finance Agency has never been busier or more preoccupied with what has now become a priority; keeping Ohio residents in their homes as a solution to the severe pressure of rising bank foreclosures this state has experienced over the last ten years, filings numbers increasing sharply in 2006. Urban counties in particular now figure as the major suppliers to properties listed in the Ohio foreclosure listings. Delaware county has recorded filings increase of 50% in the last 3 years; Franklin, Pickaway and Cuyahoga counties have increasing problems, its a statewide issue.

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