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Reduced foreclosure levels felt in Ohio in 2014

Posted on June 30th, 2015 No Comments

Recent numbers indicate that Ohio’s foreclosure rate has decreased significantly, and lower rates have not been seen for over a decade, according to the Public News Service on June 8.

In the data collated by the researchers of “Policy Matters Ohio,” it was revealed that the state-wide foreclosure rate in 2014 was down by 18 percent compared to a year earlier. Last year’s foreclosure record was considered to be the lowest in Ohio since 2001. In spite of the decreasing foreclosure levels, research director Zach Schiller explained that Ohio is still affected by the economic downturn a few years ago. Compared to the normal foreclosure levels during the 90’s, the current foreclosure rate is still high. Schiller also stated that the federal funding program assisting thousands of troubled homeowners in Ohio is nearly exhausted and is now refusing to accept applicants. The report identified Richland County as having the highest foreclosure rate.

The Cincinnati lawyers of Ryan J. Ruehle Attorney at Law, LLC, understand that many Cincinnati homeowners are being threatened with foreclosure. If you are concerned you are in this situation, our skilled lawyers may offer you workable legal options for you to possibly save your home. Discuss your situation with us today by calling (513) 621-0999.

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