According to data that was recently released by the Ohio Supreme Court, foreclosures in the Buckeye State continue to be a problem. Last year, 70,469 homes were foreclosed on, and this number is about four times higher than it was just two decades ago.
The number of foreclosures in 2012 was only slightly lower than in 2011. That figure spiked in 2009 at 89,061, and has seen only a moderate decrease each year since then. The fact that there continues to be a high number of foreclosures in Ohio means that this state is still suffering from the effects of the housing market crash a few years back.
The highest number of foreclosures came from Cuyahoga County, which saw 11,427 home repossessions last year. Noble, Adams and Madison counties all saw increases in the number of homes being foreclosed upon in 2012. Adams saw an increase of 41 percent, Noble 38 percent, and Madison 22 percent.
The fact that foreclosure numbers remain high has some groups in Ohio extremely concerned. Mark Wiseman is the director of the Consumer Law Center, a department of the Neighborhood Housing Centers of Greater Cleveland. He claims more foreclosure mediation and mortgage counseling needs to take place in order to reduce these numbers even further in the future.
Foreclosure can be a stressful event in anyone’s life. If you are delinquent in making your mortgage payment, don’t wait until you receive a notice from your lender before acting. The sooner you contact an Ohio foreclosure defense attorney, the better your odds are of successfully retaining your home. Contact us today for a consultation.