The rate of foreclosed homes in Ohio increased by 9% in March 2008 as compared to the previous month. The rate was one filing per 448 homes and this ratio is being seen as the 7th highest in the country. The rate of foreclosures in Ohio by the end of the first quarter of 2008 is actually 37% more than what it was in March 2007. There was a drop in the rate of foreclosures by state in February by almost 19% but that has not changed the current scenario in any way.
The worst hit area of Ohio was Columbus in spite of the fact that the foreclosure rate eased in the final quarter of 2007. The rate of foreclosed properties in the first-quarter remained right at the top of the metropolitan list. A year before in 2006, the foreclosure rate in the 1st quarter was more than 50% but it fell by 4% percent at the end of the 4th quarter of 2007. Columbus recorded 5,338 foreclosed properties that included auction, notices of default and repossessions. The rate of foreclosure homes in Ohio at the end of the 4th quarter of 2007 was one per 144 households.
The foreclosure rate in the first quarter of 2008 was considered the 8th highest in the country as Ohio registered 8,168 foreclosed homes that had gone into default. Of the total number of foreclosed homes in the state, 12,785 homes were auctioned while 10,200 were repossessed by the banks. In total there were 31,252 filings in 2007 as Ohio managed a rate of one filing per 161 households. In terms of volume of foreclosure homes, Ohio was listed 3rd in the country.
The worst hit area of Ohio was Columbus in spite of the fact that the foreclosure rate eased in the final quarter of 2007. The rate of foreclosed properties in the first-quarter remained right at the top of the metropolitan list. A year before in 2006, the foreclosure rate in the 1st quarter was more than 50% but it fell by 4% percent at the end of the 4th quarter of 2007. Columbus recorded 5,338 foreclosed properties that included auction, notices of default and repossessions. The rate of foreclosure homes in Ohio at the end of the 4th quarter of 2007 was one per 144 households.
The foreclosure rate in the first quarter of 2008 was considered the 8th highest in the country as Ohio registered 8,168 foreclosed homes that had gone into default. Of the total number of foreclosed homes in the state, 12,785 homes were auctioned while 10,200 were repossessed by the banks. In total there were 31,252 filings in 2007 as Ohio managed a rate of one filing per 161 households. In terms of volume of foreclosure homes, Ohio was listed 3rd in the country.