Saturday, September 27, 2008
THE FORECLOSURE RATE IN OHIO
In an attempt to help struggling homeowners and stem the rising tide of foreclosures in Ohio, the Federal Home Loan Bank (FHLB) of Cincinnati is doling out $1.3 million in grants to neighborhood housing groups and local banks as part of its “Preserving the American Dream” program.
One out of every 375 Ohio homeowners received a foreclosure filing in July, according to the most recent data from RealtyTrac. On a year-over-year basis, bank repossessions in the state were up by 33 percent. RealtyTrac ranked Ohio as having the fifth highest foreclosure rate in the nation, based on July's figures.