Ohio Foreclosures Are Highest in the Nation

OHIO — Foreclosures in the US have risen to the highest level since the pandemic began. This is from real estate data provider Attom Data Solutions. According to their findings, Ohio is one of the top five states with the highest number of foreclosures initiated in January this year. Northeast Ohio is one of the most affected areas.

What you need to know

  • Ohio is one of the top five states with the highest number of foreclosures starting in January 2022.
  • Northeast Ohio is one of the most affected areas
  • 329 Foreclosure Lawsuits Filed in Cuyahoga County in January 2022
  • Homeowners shouldn’t wait until late to seek help paying mortgages and taxes, experts say

For some people, the end of foreclosure limits in December may have created financial problems. Nina Holzer, assistant director of financial mobility at CHN Housing Partners, said the moratorium has allowed people to stay home.

“Lifting of [restrictions] It certainly affects people’s ability to pay their mortgages and taxes,” she said.

Nearly half of the foreclosure lawsuits filed in Cuyahoga County in January 2022 are tax related.

January 2022 January 2021
Foreclosure Case File: 329 Foreclosure Case File: 309
137 taxes; 48 tax payment certificates; 124 mainly mortgage foreclosures 150 tax; 19 tax payment certificate; 160 mainly mortgage foreclosure

Holzer said CHN Housing Partners has seen an increase in foreclosure clients, which could be for a number of reasons. Still, she says, more and more people are asking for help.

“We have far more resources available now to deal with mortgages and tax foreclosures than we did earlier in the pandemic. More people are reaching out to us now.”

Still, the report says national foreclosure rates are still below normal levels. Cuyahoga County had the highest number of foreclosure cases filed in August 2021, with a total of 880.

“People are catching up now and I think people were lagging behind during the pandemic. “But we got help from Ohio’s housing finance agency in the form of Save the Dream, which enabled us to take advantage of their Utility Assistance Plus program, the Homeowner Assistance Fund.” Now we have access to resources that help people stay home and prevent foreclosures.”

What can homeowners do to avoid losing their homes?

Holzer tells homeowners not to wait for a foreclosure to reach out and ask for help.

“Early action to resolve foreclosure issues, whether foreclosure issues or tax issues, is key to success,” Holzer said.

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