Ohio Foreclosures Rise, While Michigan’s Drop
By Tim Somers on Aug 15, 2008 in General
As reported in the Toledo Blade, home foreclosures in Michigan dropped significantly in July, but are on the rise in Ohio as reported by RealtyTrac Inc. an Irvine, California tracking agency.
Michigan’s filings dropped 3.6 percent in July verse June – 11,591 properties about 17 percent lower than the previous month. Michigan is still ranked seventh in the nation for filings per capita.
Ohio on the other hand had 13,457 foreclosure filings in July, which was 2 percent higher than June, but just 1 percent higher when compared to July of 2007. That pushes Ohio to the fifth state behind Nevada, California, Florida and Arizona for the most filings per capita.
Nationwide a total of 272,171 filings of default and/or bank repo’s for the month of July an 8 percent increase from June and 55 percent more than July of 2007.
I hope this is a sign of better times and Michigan home owners find ways to stop foreclosures in the coming months.
Tim Somers
MichiganBusinessHub.com
