Sheriff’s deeds filed in 2007
From January 1 through July 19 (yesterday), the County Recorder’s online database shows a total of 5,500 sheriff’s deeds filed in the Cuyahoga County. That’s an average of 39 completed foreclosures every business day.
At this rate, about ten thousand properties — 1 out of every 45 one- and two-family houses in Cuyahoga County — will be the subjects of sheriff’s deeds this year.
The filing of a sheriff’s deed is the last step in the transfer of a property through a sheriff’s sale (foreclosure). Not all foreclosures result in a prompt sheriff’s deed filing; lenders will often delay this step for months, possibly to avoid maintenance or tax obligations. (Rep. Mike Foley is pushing a bill in the General Assembly to end this practice.) So the numbers shown below don’t include all the foreclosures in the county this year — only the properties for which the legal process was completed.
(Click on the chart for a full-size version.)
The top four sheriff’s deeds filers so far this year:
- Deutsche Bank with 707 foreclosed properties (12.9% of the total)
- Wells Fargo with 524 foreclosed properties (9.5% of the total)
- the Department of Housing and Urban Development, also with 524 (9.5%); and
- the Federal National Mortgage Association (Fannie Mae) with 472 (8.6%).