Ohio Foreclosure Activity Rises in August

Statewide  filings up 17 percent from July

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — rose in  Ohio, where 9,841 properties were reported in August, a 17 percent increase  from July, but 27 percent below the level reported for August 2010, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

Ohio had the 11th  highest rate in the country with one in every 518 housing units with a  foreclosure filing in August.

California continues to  lead the nation in terms of total properties with foreclosure filings by a  large margin, reporting 59,383 properties with a foreclosure filing. Second  ranked Florida reported 23,569 properties with foreclosure filings during the  month. Moving up to third place was Michigan, where 13,016 properties with  foreclosure filings were reported. Illinois jumped a spot to the fourth highest  total, reporting 12,493 properties with foreclosure filings while Georgia  dropped two spots and took fifth place, tallying 11,743 properties with  foreclosure filings.

The remaining states that  make up the nation’s top 10 in August include Arizona (11,081), Texas (10,148),  Ohio (9,841), Nevada (9,677) and Colorado (4,933). The top 10 accounted for 73 percent  of the nation’s total foreclosure activity for the month.

Licking and Cuyahoga counties post top foreclosure  rate in the state for August
  One in every 337 housing  units in Licking and Cuyahoga counties received a foreclosure filing in August —  1.7 times the national average and 1.5 times the state average — the highest  foreclosure rate of all Ohio counties for the month. Warren County had the third  highest rate of one in every 339 housing units with a foreclosure filing during  the month — 1.7 times the national average and 1.5 times the state average. Butler  County had the fourth highest rate of one in every 340 housing units with a  foreclosure filing during the month — 1.7 times the national average and 1.5  times the state average.

Cuyahoga County posts the state’s top foreclosure  total in August
  Cuyahoga County led the  state in foreclosure activity, reporting 1,840 properties with foreclosure  filings for the month. Franklin County was second highest, reporting 1,244 properties  with foreclosure filings. Hamilton County was third, reporting 604 properties  with foreclosure filings. Fourth highest was Montgomery County, recording 537  properties with foreclosure filings. Butler County was fifth tallying 425  properties with a foreclosure filing.

State the nation’s eighth largest contributor to total  foreclosure activity in August
  Ohio accounted for 4 percent  of the 228,098 properties with foreclosure filings reported nationwide in August.  Total U.S. activity increased by more than 7 percent from July, but was down nearly  33 percent from the level reported in August 2010. One in every 570 U.S. housing  units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank  repossessions in the coming months as these new foreclosures make their way  through the process.”

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 – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

Ohio

0

4,439

0

2,717

2,685

9,841

518

1.10

n/a

 

 

 

 

 

 

 

 

 

 

Licking

0

58

0

72

67

197

337

1.69

1.54

Cuyahoga

0

862

0

302

676

1,840

337

1.69

1.54

Warren

0

109

0

72

48

229

339

1.68

1.53

Butler

0

168

0

169

88

425

340

1.68

1.52

Fairfield

0

61

0

44

48

153

369

1.54

1.40

 

 

          Ohio Top Foreclosure Totals by County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

Ohio

0

4,439

0

2,717

2,685

9,841

518

17.49

-26.99

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

862

0

302

676

1,840

337

77.09

-13.29

Franklin

0

760

0

325

159

1,244

423

40.88

-39.32

Hamilton

0

223

0

220

161

604

637

-1.63

-18.27

Montgomery

0

272

0

70

195

537

475

13.05

-39.25

Butler

0

168

0

169

88

425

340

-1.85

36.66

 

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