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Foreclosure Archives

Ohio foreclosure numbers don't look good compared with rest of US

For people in the Cincinnati area who are feeling overwhelmed with debt and worried they could be in danger of losing their house, filing for bankruptcy might be a viable option. Filing under Chapter 13 or Chapter 7 could allow someone who is behind on mortgage payments to stay in their house and avoid foreclosure. It seems, however, as though not enough people in Ohio are taking advantage of this potential benefit to filing bankruptcy.

Ohio foreclosure proceedings increase, making stopping it crucial

Readers in Ohio may be surprised to learn that our state is one of the highest ranked in the nation for an unfortunate distinction. As it turns out, we are among the top three states in the union for foreclosure actions. This dubious fact means that we have some 32.5 percent of all mortgages in our state underwater and in need of help stopping foreclosure.

More Ohio homeowners work at stopping foreclosure

Readers in Ohio may be surprised to learn that our state is one of the highest ranked in the nation for an unfortunate distinction. As it turns out, we are among the top three states in the union for foreclosure actions. This dubious fact means that we have some 32.5 percent of all mortgages in our state underwater and at risk for foreclosure.

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.

National program grant helps those at risk of foreclosure in Ohio

The recent recession has had many adverse effects on the economy and people's lives. The real estate market has been especially affected by the recession, causing many people to fall behind on their mortgage payments. However, the Ohio Housing Finance Agency (OHFA) plans to help these people through a grant from a national program designed to provide foreclosure counseling services.

Debt relief outside bankruptcy may have tax consequences, P.1

As we continue to approach the income tax deadline next month, it is important for people to understand that the Internal Revenue Service generally considers forgiveness of debt as a taxable event for income tax purposes, but there are some exceptions. There are a wide variety of ways for consumers to seek debt relief, but in each individual case, a consumer needs to seek information to learn the pros and cons of each method of finding debt relief.

Feds hand over foreclosure reviews to the banks

This blog has discussed the foreclosure review process a number of times. Many homeowners hoped that the review process would provide some amount of compensation in a reasonable amount of time. But the foreclosure review process seemed to be inefficient as relief has not been forthcoming.

Ohio bankruptcies decline in 2012, analysts say it may be just a lull

In the last post, this blog discussed the increase in foreclosure activity in Ohio last year. Overall, foreclosures rose slightly, but that rise followed a lull in home repossessions. Commentators say that the lull in foreclosures early in the year last year was a factor in a reduction in the number of people filing for bankruptcy in Ohio in 2012, when compared with 2011.

Ohio Foreclosures increase in 2012

Many homeowners in Ohio have kept their eyes on the housing market. Ever since the foreclosure crunch hit several years ago, it has had an effect on many homeowners who have not fallen behind on their mortgage payment. Many commentators have argued that the home mortgage foreclosure glut has hit housing prices, increasing the number of homeowners who have little equity, or are underwater on their home loan balance.

Homeowners associations begin foreclosing on bank-owned properties

A new trend seems to be emerging in at least one state in the wake of the foreclosure crisis. This blog has reported stories about the issues Ohio homeowners have faced in foreclosure proceedings. Other discussions on these pages have covered stories about homes being razed after foreclosure. But there is a recent wave in Florida where homeowners and condo associations have been turning the tables on lending institutions.

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