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Article: Foreclosure Actions on the Rise in Lucas County, Ohio.
- Article from:
- The Blade (Toledo, OH)
- Article date:
- July 28, 2002
CopyrightCOPYRIGHT 2002 The Blade. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mary-Beth McLaughlin
Jul. 28--The dream of home ownership is quickly turning into a nightmare for a number of area families.
That's because job losses or decreased overtime, coupled with consumer debt that's spiraling out of control and some desperate homeowners refinancing their homes for more than they're worth, have led to more than 800 foreclosure actions filed in Lucas County so far this year. The actions are the result of owners being delinquent on paying mortgages or property taxes.
Fewer than half of the filings this year have resulted in homes being sold to recoup the amount owed, but that isn't as rosy as it appears: Many ...