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Help for Ohio’s homeowners

November 6, 2011
Douglas A. Garver - Guest Columnist (editorial@tribtoday.com) , Tribune Chronicle | TribToday.com

High unemployment and reduced home values have pushed mortgage foreclosure rates to unprecedented levels in Ohio with one in every 518 housing units in foreclosure, according to data from Realty Trac. The "shadow inventory" of loans currently in foreclosure and properties now owned by lenders clouds the hope of recovery. With just 100,980 home sales in 2010, the market has shrunk almost 30 percent from its peak in 2005, according to the Ohio Association of Realtors (OAR). Nonetheless, there is a silver lining to the state's housing woes.

 
 

 

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