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Stark County, Ohio ranks number 54 of 100 counties in the
nation with the highest percentage of households facing foreclosure,
according to data provided in RealtyTrac's August 2007 U.S.
Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Stark County the ratio is even more alarming.
One of every 204.20 households in the county is now facing
foreclosure.
Ohio registered the third highest state total, with 17,793
foreclosure filings during the month, the state followed California
and Florida in terms of greatest number foreclosures filed. Ohio
documented a foreclosure rate of one foreclosure filing for every
281 households, fifth highest rate in the nation.
With 162337 households and total foreclosure filings in August
reaching 795, Stark County is one of 9 counties in Ohio to make the
national list for counties with the highest foreclosure rates.
Although it is unclear what may have caused foreclosure activity
in Stark County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below can help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago.
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