Collateral Damage: Renters in the Foreclosure Crisis

June 19, 2008
   

The number of foreclosure filings in Cuyahoga County and across Ohio continues to rise. Renters make up a significant portion of Cuyahoga County’s households (more than one-third) but are often not considered in the foreclosure process. Renting families are often given little, if any, notice about the house going into foreclosure and may face significant costs when they leave. An estimated 3,918 foreclosure filings in Cuyahoga County were rental units in 2007, an increase of 29 percent from the previous year. Rental foreclosure filings grew at a higher rate than owner-occupied foreclosure filings. Rental foreclosure filings represented nearly 30 percent of all residential property foreclosure filings in 2007.

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