A recent report finds that Ohio has among the highest number of new foreclosure filings in the country.
ATTOM Data Solutions, which analyzes real estate data, found that lenders began the process against 665 homeowners in Ohio last month.
There are many factors that can affect the foreclosure rate. However, one that may be driving the current spike in filings is the end of a program that allowed struggling homeowners to defer payments on federally backed mortgages.
The Ohio Housing Finance Agency helps with the financing of low- to moderate-income housing and works with many first-time homeowners. Spokesperson Penny Martin says it’s too early to tell what this means for the housing sector in the state.
“It’s hard to compare data over the last few years because of the impacts of the recent pandemic. So we’re very cautious about data that’s coming out because we are looking at it closely because we want to make sure we understand kind of where Ohio stands,” Martin said.
She suggests any Ohioans who are facing foreclosure reach out to their mortgage lender for options.
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