Ohio Foreclosure Activity Falls in April

Statewide foreclosure filings down 7 percent from March; rate #12 nationally

 

Monthly foreclosure activity in Ohio fell in April, down 7 percent from the previous month to 11,936 properties with foreclosure filings. This latest state total also represents a 3 percent year-over-year decrease in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state ranked as the 12th highest state foreclosure rate in the nation with one in every 426 Ohio housing units receiving a foreclosure filing during the month.

 

“Ohio foreclosures were down in April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in default notices, which fell 22 percent for the month. Even so, the state still remains among the top 10 nationally in total foreclosures. Its unemployment rate needs to come down and home sales need to pick up here before we see a significant reduction in foreclosures.”

 

California continued to lead the nation in highest level of foreclosure activity in April with 69,727 properties with foreclosure filings. Florida followed, reporting 48,385 properties with foreclosure filings for the month. Michigan rose to third highest, documenting 19,173 properties with foreclosure filings. Illinois came in at fourth highest, reporting 18,870 properties with foreclosure filings. Nevada rose two spots to fifth, tallying 16,217 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure activity in April were Arizona (16,088), Georgia (13,963), Texas (13,133), Ohio (11,936) and Virginia (7,065). In all, the top 10 accounted for 70 percent of all foreclosure filings in the nation for April.

 

Marion County posts top foreclosure rate for April

Marion County posted the highest county foreclosure rate in Ohio for April, with one in every 216 housing units receiving a foreclosure filing — 1.9 times the state average. Lucas County came in second, with one in every 239 housing units receiving a foreclosure filing — 1.8 times the state average. Seneca County was third, with one in every 254 housing units receiving a foreclosure filing — 1.7 times the state average.

 

Cuyahoga County led the state in total foreclosures for April

Cuyahoga County continued to lead the way, reporting 1,691 properties with foreclosure filings for the month. Franklin County remained second highest, documenting 1,343 properties with foreclosure filings. Reporting 1,010 properties with foreclosure filings for the month, Hamilton County ranked third highest. Lucas County was fourth, reporting 854 properties with foreclosure filings. A total 747 properties with foreclosure filings were reported in Montgomery County, the fifth highest county total in April.

 

State contributes 4 percent to nation’s month foreclosure total

Ohio accounted for 4 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Ohio Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Ohio

0

4,692

0

3,495

3,749

11,936

426

0.91

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

59

0

56

14

129

216

1.79

1.97

Lucas

854

0

91

0

77

168

239

1.62

1.78

Seneca

0

22

0

38

36

96

254

1.52

1.68

Fayette

0

7

0

18

23

48

265

1.46

1.60

Brown

0

30

0

16

25

71

278

1.39

1.53

 

 

 

Ohio Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Ohio

0

4,692

0

3,495

3,749

11,936

426

-7.11

-3.15

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

713

0

514

464

1,691

367

1.05

1.16

Franklin

0

814

0

12

517

1,343

391

0.99

1.09

Hamilton

0

264

0

537

209

1,010

381

1.02

1.12

Lucas

854

0

91

0

77

854

239

1.62

1.78

Montgomery

0

314

0

165

268

747

341

1.13

1.25

 

 

 

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