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Ohio foreclosure actions show increase

The good news for Ohio readers is that the recession appears to be coming to a slow end and some economic factors are improving. The bad news, though, is that there has been an increase in the number of foreclosure actions taking place in our state recently. However, details as to why this is happening are few.

Across the nation, foreclosure rates are falling. In fact, the national numbers for these types of actions have fallen by some 23 percent over the past year. This is not the case, however, in Ohio.

This past March, some 10,731 foreclosure actions were filed in Ohio. This number represents an astounding 27.4 percent rise over the same time a year ago. In fact, the numbers of foreclosures have risen in our state for the past four fiscal quarters, including the most recent one.

The good news for readers is that there are ways to fight a foreclosure in many cases. People find that they can work with officials who are familiar with the foreclosure process to modify loans, renegotiate the principal of a loan in some cases and even file for personal bankruptcy protection. All of these actions can, at least, forestall a foreclosure action and offer time to the homeowner trying to fight to save their home. To determine just how to best fight a foreclosure, a person may do well to review the laws of our state as they apply to their personal situation as they enter into the process or negotiations with their lenders.

Source: The Columbus Dispatch, "Ohio foreclosure filings up slightly last month," April 11, 2013

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