Ohio foreclosures drop, but remain high
- May 9, 2014
2013 filings were 2½ times the average in the 1990s
Despite a welcome 25 percent drop, Ohio foreclosures in 2013 remained at highly elevated levels, according to the annual foreclosure report released today by Policy Matters Ohio. Last year’s 53,163 new foreclosure filings was 2½ times the average annual total during the 1990s.
The study, based on Ohio Supreme Court data, noted that when Policy Matters first analyzed foreclosures because of dramatic growth, the number had reached 43,419 in 2001, or well below last year’s total.
“Despite the high level of foreclosures, the state recently cut off new applications to its main effort to help homeowners avoid foreclosure,” said Zach Schiller, Policy Matters research director and author of the study. “We need to find the resources to continue that important effort and to combat the blight caused by the foreclosure crisis. Communities need hundreds of millions of dollars to tear down or rehabilitate the tens of thousands of vacant and abandoned houses that threaten neighborhoods across Ohio.”
Cuyahoga County led the state in 2013 for the ninth year in a row with the highest foreclosure rate.