Callahan’s Cleveland Diary

Our friends at NEO CANDO don’t have figures for the last week of December yet, but it’s now possible to combine information from the Common Pleas Court docket with NEO CANDO’s totals through December 22 and conclude that…

• Just under 10,800 new mortgage foreclosures were filed in Cuyahoga County in 2009… the lowest total in four years, but still a very big number, especially considering that it brings the county’s running total for those same four years to more than 47,000.  That’s about 11% of all residential properties in the county.
• About 4,200 of those 2009 foreclosures were filed against properties in the city of Cleveland… a significant drop  from about 5,600 in 2008 and 6,440 in 2007.  Yes, it appears that Cleveland neighborhoods may be starting to run out of foreclosure fuel.  How could they not, when one-sixth of the city’s homes have been targets of foreclosure just since January 2006?  But…
• With nearly 6,600 foreclosures in the rest of the county, 2009 was a worse year for suburban foreclosures than either 2006 or 2007, and just barely better than 2008.

Here are the numbers of new foreclosure filings by month over the past two years.  Is this a downward trend?  You be the judge:

This entry was posted on Friday, January 8th, 2010 at 1:09 am and is filed under Foreclosure crisis, Poor Cleveland, Shrinking city. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.