Ohio Foreclosure Rates Fall, Though Some Still Suffer

There is good news in economic reports that have come out over the past several months. As the Great Recession fades for people in Ohio and elsewhere, the number of foreclosure cases and distressed properties has begun to decline. The evidence of this was apparent in a recent report of such matters in the state.

According to the report, the number of foreclosure cases has fallen in one Ohio county to levels not seen since 2000. In fact, the number is expected to fall a full 25% over the coming year. Authorities also expect that the trend for foreclosure cases will continue to fall as the devastation from the recession fades.

However, there are still nearly 2000 homeowners and families who may face foreclosure in Ohio this year. The people in these situations may have experienced medical costs, job losses, divorces or other economic stressors. In such situations, it can be difficult for a homeowner to maintain paying a mortgage, which only adds to the stress the homeowner is likely already experiencing.

When a homeowner in Ohio is facing foreclosure, his or her questions may be many and varied. The effort to save their home can cause some emotional strain as well. Because of this, many find that it is helpful to seek advice from professionals who have experience in these types of situations. Attorneys experienced in foreclosure defense are most likely aware of programs and other strategies to help make the foreclosure process easier for their clients. In many cases, the process can even end with homeowners staying in their homes.

Source: ohio.com, “Foreclosure lawsuits tumble in Summit County”, Rick Armon, July 8, 2017