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The foreclosure rates in Cleveland, Ohio are still very high
This article is not good news for Ohio foreclosure no matter how the numbers are calculated. The foreclosure rates and Ohio and specifically Cleveland are one of the highest in the nation. In this article shows how Cleveland ranks.
- This is an excerpt from an article posted by The Plain Dealer, by Olivera Perkins - Wednesday, Feb. 22, 2007 ”Ohio had the eighth highest foreclosure rate in the country, according to a recent report by a real estate Web site.
Greater Cleveland ranked 14th among the 100 largest American metropolitan areas, according to RealtyTrac Inc.
Does this mean that Ohio no longer has the highest foreclosure rate in the country?
Not necessarily.
Many in Northeast Ohio are more familiar with rankings done by the Mortgage Bankers Association, which says Ohio has the highest foreclosure rate in the country. (Unlike RealtyTrac, the MBA did not rank foreclosures by metropolitian area.)
"They are both accurate in their assumptions in their own way," said Emma Petrie, a research analyst for the Federal Reserve Bank of Cleveland, which is studying how researchers measure foreclosure rates…” www.cleveland.com/news/plaindealer
Once again the problem in Cleveland is not how they do the calculations but the fact that there are way too many foreclosures. If you live in this area and are suffering a possible foreclosure please contact us to discuss options that may be available for you.
Related Entries
- Ohio foreclosure rates have become an epidemic - February 25, 2007
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