Foreclosures rising in Akron's suburbs

[Ed Haas]

MV_Esq wrote:

<quoted text>
"Foreclosure" does not mean "immediately deeded back to the bank". The sheriff's sale is part of the foreclosure process. Everyone, including the bank, has a chance to bid. Often the banks go to the sales to bid up the price and recoup their losses. If a private party buys the property at the sale, the proceeds go to pay the bank note. If no one else can give a good price, the bank will buy it themselves and re-sell it (but they hate to do this).

The banks do usually buy the houses, and end up selling them just as cheap usually. It's mostly used to make up SOME of the money. But bottome line, the middle class in NE Ohio is pretty much dissapearing. You either have a nice house, or you have a house that's about to get foreclosed on/bad neighborhood.

Time to leave Ohio if you can. I hear Texas, Colorado, and parts of Washington and Oregon are going through some pretty hefty growth spurts economically.

[Something Wicked]

Ohio is filled with greedy politicians who enjoy squeezing every last dime out it's citizens.
No wonder since Voinovich and Taft were in the Governor's office, over 200k people have fled the state, and we lead the way in foreclosures.
A lot more people are going to start fresh, in another state, if a resolution isn't forthcoming.
Summit Co. politicians are leading the new exodus.

[Dusty]

John Lewis wrote:

Crime Rate, School system and the destruction of the saftly forces helped Akron to be the leader of forclosures.
Why should you try to save the home you bought in such an unsafe envirnment.

Except the same things can't be said about the other outlying areas listed.
New Frnaklin clocked in pretty high on that list, and its school system, Manchester, is one of the best in the area; crime rates are nothing serious past your average run of the mill stuff, and New Franklin has two safety forces if you count the city itself plus the Summit Co Sheriff's Dept.
I wouldn't consider New Franklin - or Coventry - or any of the other burbs to have the same issues you mentioned, yet foreclosures are on the rise.
You don't have to live in a bad neighborhood to see that the crisi extends to virtually everywhere.

[Cloverine Fleetwood]

There is something fundemantally wrong when people wounded by these tough economic times lose their homes over unpaid taxes and businesses get abatements and other kinds of breaks from the government. I do not know the ins and outs of this matter but do know that I would like to see government doing all it can to help individuals as well as businesses.

[Machine Gun Joe Viterbo]

Instead of Hoover-ville we will have to start Bushlands. Were all the former Home owners can make shanty towns.

[guest]

I see alot of people on here blaming policitians for this and every other problems. You should put the blame squarely where it belongs.
On the people who did not read their loan papers or didn't understand/know what they were signing. If they did understand they bought way more house than they could afford and were living beyond their means.
These people made their own mess. Let them lie in it.

[Spirit of Reagan]

Ed Haas wrote:

<quoted text>
The banks do usually buy the houses, and end up selling them just as cheap usually. It's mostly used to make up SOME of the money. But bottome line, the middle class in NE Ohio is pretty much dissapearing. You either have a nice house, or you have a house that's about to get foreclosed on/bad neighborhood.
Time to leave Ohio if you can. I hear Texas, Colorado, and parts of Washington and Oregon are going through some pretty hefty growth spurts economically.

Millions of people live in NE Ohio and there were 2,100 filings the 1st half of the year. don't be a drama queen.

[Spirit of Reagan]

guest wrote:

I see alot of people on here blaming policitians for this and every other problems. You should put the blame squarely where it belongs.
On the people who did not read their loan papers or didn't understand/know what they were signing. If they did understand they bought way more house than they could afford and were living beyond their means.
These people made their own mess. Let them lie in it.

Personal responsibilty? That's a new concept. Liberals like to think we are all victims of the banks and Big Oil.

[SunnyFlorida]

All I can say is like my dad used to preach BUY AMERICAN!!! Funny how nobody listens & look at where we are today! Even my own mother bought a foreign car. Dad would roll over in his grave if he knew that! He fought is the war & cannot understand how people could buy from the ones who killed our ancestors

[just me]

Cloverine Fleetwood wrote:

There is something fundemantally wrong when people wounded by these tough economic times lose their homes over unpaid taxes and businesses get abatements and other kinds of breaks from the government. I do not know the ins and outs of this matter but do know that I would like to see government doing all it can to help individuals as well as businesses.

didn't you know that this is the american way,just ask the people in New Orleans how the goverment really helped them.

[Ed Haas]

Spirit of Reagan wrote:

<quoted text>
Millions of people live in NE Ohio and there were 2,100 filings the 1st half of the year. don't be a drama queen.

Millions huh? Thats a good one. 2100 is only a beginning number. Does anyone think that those filings will decrease next year? Now THATS funny.

[Ed Haas]

SunnyFlorida wrote:

All I can say is like my dad used to preach BUY AMERICAN!!! Funny how nobody listens & look at where we are today! Even my own mother bought a foreign car. Dad would roll over in his grave if he knew that! He fought is the war & cannot understand how people could buy from the ones who killed our ancestors

American cars suck today. They break down, they aren't made with the same precision and care that foreign cars are. The American made cars that actually are crafted well, most of the middle class and under can't afford anyways.

[Summit at the summit]

concerned wrote:

Summit County employs 13 public relations employees.

They must spend their work days having relations with the public, because I certainly see no evidence of them actually doing any real work.

[still hanging on]

John Lewis wrote:

Crime Rate, School system and the destruction of the saftly forces helped Akron to be the leader of forclosures.
Why should you try to save the home you bought in such an unsafe envirnment.
It is not just economics that makes forclosures in Akron.
Homes are not disirable in Akron so they don't sell and don't rent.
Got the picture yet Mayor Don & Councilman Sommerville?

They get the picture .. they just don't care! It's not happening to them, "so what" to the rest of us!

[Why]

Try It Again wrote:

I think that the government should give everyone a $10,000 mortgage tax credit to help them pay their mortgages and allow people to keep their homes.

I pay my fair share of taxes and have not purchased a home because I was worried about my ability to pay even though I was pre-approved for way more than I thought I could afford. Why should my tax dollars go toward helping out homeowners who threw caution to the wind and signed anything presented to them just so they could have what they felt there were entitled to? And does this $10,000 tax credit take effect every year and will they just lose their home next year because they still cannot afford it?
All this talk about how the gov't should bail homeowners out makes me so mad because I feel like I'm the one being penalized for not being careless and buying a house I couldn't afford.

[Hater]

ABJ's analyst need to be fired. A 200% increase on 10 foreclosures doesn't mean that burbs are struggling anywhere near as much as Akron. Why not compare population stats to foreclosures? In Green if there were 20 foreclosures and a population of 12,000 that 0.16%. Now, in Akron, you have 2,200 foreclosures to about 200,000 peolpe or 1.1%. Which are is in crisis?

And yes people I am using rough numbers. I don't need a link to exact census data. I'm trying to convey the concept and show the ABJ is creating panic (again).

[Cloverine Fleetwood]

just me wrote:

<quoted text>
didn't you know that this is the american way,just ask the people in New Orleans how the goverment really helped them.

Excellent example of the government failing to help. There are other examples: less than first class funding for VA hospitals, other veterans benfits, unequitable school funding, closing of mental health facilities, etc., etc.

I believe that part of the problem is that too much of government leadership at the highest levels has little empthy of how working people live and struggle. I will start with President Bush, a man born into privilege and money. I get the impression that he thinks the reason he started the game on third base is because he hit a triple. I do not think him a bad man because of his advantaged life but also think that try as he might, he lacks understanding for those who begin the game by going up to the plate and taking their chances or who never even get into the batter's box. I compare him to President's Truman, Eisenhower, Nixon, Reagan, Ford, Johnson, and Clinton who has at least in their younger days experienced some of the problems facing working people.

I relly hope that we, as a country, will begin to do better for those in need. Your response may have been brief but it said tons.

[Try It Again]

Why wrote:

<quoted text>
I pay my fair share of taxes and have not purchased a home because I was worried about my ability to pay even though I was pre-approved for way more than I thought I could afford. Why should my tax dollars go toward helping out homeowners who threw caution to the wind and signed anything presented to them just so they could have what they felt there were entitled to? And does this $10,000 tax credit take effect every year and will they just lose their home next year because they still cannot afford it?
All this talk about how the gov't should bail homeowners out makes me so mad because I feel like I'm the one being penalized for not being careless and buying a house I couldn't afford.

It would be a one time credit that could be spread over several years. That way, people can catch up on their payments, and then refinance to a new mortgage that they could afford. I personally blame President Bush & Congress for not watching over the mortgage industry closer. The Republicans believe if you leave business alone, they will do the right thing. That is obviously not true from what we are seeing. If the Fed's agencies had done their job for the 7 years of Bush's admin, we would not being having these issues now. The FDA has done the same with so many issues with drugs' side effects now and food contamination like the tomatoes as well. We need more government oversight of the business world again which BHO has promised he would do.

[Try It Again]

Cloverine Fleetwood wrote:

<quoted text>
Excellent example of the government failing to help. There are other examples: less than first class funding for VA hospitals, other veterans benfits, unequitable school funding, closing of mental health facilities, etc., etc.
I believe that part of the problem is that too much of government leadership at the highest levels has little empthy of how working people live and struggle. I will start with President Bush, a man born into privilege and money. I get the impression that he thinks the reason he started the game on third base is because he hit a triple. I do not think him a bad man because of his advantaged life but also think that try as he might, he lacks understanding for those who begin the game by going up to the plate and taking their chances or who never even get into the batter's box. I compare him to President's Truman, Eisenhower, Nixon, Reagan, Ford, Johnson, and Clinton who has at least in their younger days experienced some of the problems facing working people.
I relly hope that we, as a country, will begin to do better for those in need. Your response may have been brief but it said tons.

I agree Bush was born with a silver spoon in his mouth, and hasn't a clue of what it's like to struggle to pay your bills every month like the rest of us middle class folks.

[Ed Haas]

Try It Again wrote:

<quoted text>I agree Bush was born with a silver spoon in his mouth, and hasn't a clue of what it's like to struggle to pay your bills every month like the rest of us middle class folks.

Which is why, I'm sorry for going off topic, we need to abolish the two party system, and put something in place that can give the people the right to vote on who they want based on policy, and not on party.