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Real Property Archives

Former Internet millionaire's house available in bankruptcy sale

People in Ohio who are contemplating filing for bankruptcy might assume that it's only those with limited incomes who might fall behind on their bills and be forced to contemplate the idea of foreclosure. However, people who are wealthy -- even what many people might consider members of the super-rich elite -- can run into the same sorts of financial issues. For those people, however, the dollar figures are on a much more inflated scale.

Wayne Newton's home mortgage satisfied in bankruptcy sale

Wayne Newton is a name that is familiar to many people in Ohio and across the country. The singer is known for his performances in casinos and for a number of hit records over the years. Now, he is making headlines as a result of his filing of a personal bankruptcy in his home state, which helped facilitate the sale of his home and payment of his home mortgage.

In Ohio, many find that they cannot repay home mortgage

It is well known in Ohio and other states that the big banks were a major part of the recent recession. This is because they issued home mortgage loans than were well in excess of what many people in our state and elsewhere were able to afford. These types of loans, and the fall of home values that occurred over the past few years, has led many to file for a personal bankruptcy as a means of responsibly confronting their financial problems once and for all.

Cincinnati housing market shows positive signs

Housing sales in the greater Cincinnati area have seen an increase recently, and at the same time the foreclosure rate has experienced a decline in Southwest Ohio and Northern Kentucky. The president of the Cincinnati Area Board of Realtors says that the decline in inventory and an increase in pending sales are good signs for the housing market.

US housing prices show signs of recovery, maybe best in years

Many commentators say that there is a strong link between the housing market and the overall economy. Ohio residents are well aware that the housing crunch has created economic problems. This blog has recently discussed the recent foreclosure rate in Ohio, as well as the decrease in bankruptcy filings that occurred across the state last year.

Federal lawmakers consider expanding mortgage refi program

Commentators who watch the housing market say that the number of homes that are underwater on the mortgage has fallen in the past year, according to Reuters. An underwater mortgage is one in which the homeowner owes more than the house is worth on the open housing market. The number of underwater mortgages nationwide has fallen from more than 12 million recorded last year to around 10.8 million homes today, according to CoreLogic.

Home loan approval after bankruptcy may not take as long as you think

Many people in Ohio were hit hard by the recession. This blog has discussed a number of issues that Cincinnati area residents have faced. The foreclosure crisis generally had an adverse impact on the housing market, leading to a spike in underwater mortgages nationwide. Layoffs during the recession put a squeeze on many household budgets.

Ohio housing market shows signs of rebound, P.2

In the last post, this blog reported that home sales and the median prices of homes showed significant signs of improvement in Ohio in August. Economists say that increases in home sales and process are signs of an improving economy. But for some Cincinnati residents, the statistic may not seem to mean much in the face of continuing debt that families took on since the recession hit household budgets hard.

Ohio housing market shows signs of rebound, P.1

The Cincinnati, Ohio, area outpaced the nation in home sales last month. In fact, home sales in the greater Cincinnati area rose by 16 percent, when compared to the same time frame last year. In four counties of Southwest Ohio (Hamilton, Butler, Warren and Clermont), total closings in August soared 16.8 percent over the reported closings in August 2011. The August housing market in Southwest Ohio saw its highest number of home sales in five years, according to the Cincinnati Area Board of Realtors.

Foreclosures in Ohio take longer than national average

While each case has its own unique circumstances, the real estate data firm RealtyTrac says that an Ohio foreclosure takes an average 18 months to complete. In some areas of the state, an Ohio foreclosure can take significantly longer, and some places proceed more rapidly. But the 18 month average is longer than the national average of 378 days, or shortly more than one year.

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