Ohio State Profile

Ohio's economic conditions remain weak as job growth continued to be slow and uneven across sectors and metropolitan areas. Ohio payrolls increased 24,700 (0.5 percent) during the year ending fourth quarter 2005...

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Finding Opportunity in the Ohio Real Estate Market: Pre-Foreclosures

In any real estate market -particularly in areas in which home valuations are facing downward pressures (i.e., high unemployment levels, overpriced housing markets, or high levels of adjustable-rate mortgages), a certain share of homeowners will be in default of their mortgage payment or facing foreclosure.

Mortgage loan default can occur dues to many grounds: job loss, divorce, health issues. Many mortgage lenders practices have contributed to default rates due to the launching of mortgage products that were designed to lower monthly loan payments and to help borrowers qualify for larger loan amounts, while others needed little in the way of documentation during the approval procedure.

These riskier loans have made it easier for some people to get mortgage loans, but they also can raised the possibility that some borrowers may end up in foreclosure...

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