foreclosures

Cincinnati's vacant foreclosed property registration program is still showing results.  Nearly 1,500 properties are enrolled; requiring lenders to make sure the properties are maintained.

Council Member P.G. Sittenfeld helped launch the program about three years ago with unanimous support from Council

“You know major banks and lenders need to be held accountable for their property just like any other ordinary citizen,” Sittenfeld said.  “So we have what has already been a very effective set of tools in the toolbox.  We’re adding some new tools to that.”

Foreclosures are down nationwide for the first half of 2014, when compared to the same time last year. But foreclosure starts are up in Ohio and Indiana. Indiana saw a 65 percent increase while Ohio went up 17 percent.

The numbers come from RealtyTrac's mid-year foreclosure report.

Tana Weingartner / WVXU

Certified homeownership counselors will spend Wednesday answering phones and doling out help. Several agencies are coming together for a foreclosure prevention phone-a-thon.

Debbie Somerville is with Save the Dream Ohio, one of the agencies staffing the phone bank.

"Ohio is back up as one of the top five (states) in foreclosures in the nation," she says. "To put that in context, that's about one in 500 homes."

Jay Hanselman / WVXU

In its first-ever Housing Market Recovery Index, RealtyTrac reports the Cincinnati/Middletown market is in the  bottom 20 markets which lag the real estate recovery nationally. (among the 100 markets ranked by RealtyTrac)

The index was calculated based on these seven different factors:

Jay Hanselman

A new report released Thursday from RealtyTrac finds Ohio fourth on the list among owners who had vacated 167,680 foreclosure properties nationwide. Vacant foreclosures represent 20 percent of all U.S. properties in the foreclosure process.

Florida was first with 55,503, or 33%. Illinois posted the second highest total (17,672), followed by California (9,802), Ohio (9,723), and New York (9,173).  The tenth largest metro area for vacant foreclosures was the Cleveland-Elyria-Mentor area.

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